Posted On 03 Aug 2017
The total value of the public debt begins to dissipate. The National Audit Office has 180 days to find out the real amount of commitments made and, incidentally, answer the doubts of social sectors, experts, and the opposition.
The special examination of the control agency – that shows the execution order – will analyze the debt contracted since 2012. According to the Ministry of Finance, during this period, revenues of 43.932 million dollars were allocated to the state budget.
The figure includes, however, only a few items. Domestic debt bond issues – most of them purchased by the Social Security – bilateral loans, foreign bond issuances and loans from foreign banks are within the amount recorded by the Ministry Finance.
The figure in question does not include unpaid bills to private oil companies, oil pre-sales, payment defaults to the Ecuadorian Institute of Social Security (IESS) and retirees of the public sector.
According to President Lenin Moreno, taking into account these figures, Ecuador has a total debt of about 58,000 million dollars.
CREO legislator Hector Yepez criticizes the management of corruption investigations. He hopes that the new analysis yield better results. “When there´s no theft, there´s enough money for everything,” said Yepez. (I)