The Minister of Economy and Finance of Ecuador, Carlos de la Torre, resigned this week. De La Torre was in charge of the Ministry since the beginning of Lenin Moreno’s government. María Elsa Viteri, former Minister of Economics and Finance in 2008, will assume his position.
Carlos de la Torre was Lenin Moreno’s minister since the beginning of his term. He was in charge of drafting the Economic Reactivation Law, approved at the end of December 2017. Unofficial information shows that the resignation would be related to an apparent disagreement with the economic plan proposed to President Lenín Moreno by other advisers.
The resignation of the minister occurs in a context of economic reforms. Ecuador is currently implementing the Law of Economic Reactivation and in the coming days the President will announce the project of Attraction and Private Investment, Sustainability of Dollarization and Generation of Employment Sources.
María Elsa Viteri held this position between 2008 and 2010. Her management is remembered for the renegotiation of the Ecuadorian external debt. After months of negotiations, they achieved a 70% reduction in the total financial obligations of the country. She has been away from the public service since 2010.