Rafael Correa: There is a problem of illiquidity

“That was precisely the government’s strategy. Instead of putting the money under the mattress, to use every penny for schools, health centers, roads, bridges, airports, ports, hydroelectric plants, multipurpose … And if we needed liquidity we had (…) contingency loans.”

President Rafael Correa explained this yesterday, during the weekly address, his economic proposal in response to criticism about the economic situation, attributed by various analysts not only to external shocks, but the lack of foresight and savings. He said that the drop in oil prices caused an impact that “goes beyond the model.”

He disqualified economists and journalists. Some for contradicting his thesis and others, for allowing it. In that sense, he developed four ideas: that his model is a success, that there is no excessive public spending, that the country does have savings and that the current spending is even lower than in past governments. (I)

Source: http://www.eluniverso.com/noticias/2016/01/24/nota/5362891/correa-hay-problema-falta-liquidez