The President of Teacher´s Staff Severance funds denies irregularities in funds management

The President of the Ecuadorian Teacher´s Staff Severance Funds (FCME for its Spanish acronym) Juan José Castelló, denied that there have been deposits of public purse in the constitution of these savings. These statements were made ​​after President Rafael Correa justified in this way the transfer to the Biess administration.

Castelló added: “We have never received any penny from the Ministry of Education, so the $ 431 million that we currently have will not pass to Biess because that’s illegal”.

The leader said they are requesting a meeting with the President on August 18 to discuss the issue with financial and legal arguments.