The people of Ecuador are rising up to refound their country as a pluri-national homeland for all. This inspiring movement, with Ecuador's indigenous peoples at its heart, is part of the revolution spreading across the Americas, laying the groundwork for a new, fairer, world. Ecuador Rising aims to bring news and analysis of events unfolding in Ecuador to english speakers.

Saturday, April 07, 2007

Correa, New Ecuador Economy

Quito, Apr 4 (Prensa Latina) Ecuador looks at the future with a new economic vision, prioritizing a greater intervention from the government in the production processes for enhanced social equality.

Ecuadorian President Rafael Correa presented the government's objectives for the 2007-2011 period, highlighting the need to end old concepts, and reject recipes of the international financial banks.

Correa advocated increased production, prioritizing social investment over foreign debt and keeping the US dollar as the local national currency.

About 1,000 guests in Guayaquil, Ecuador, saw Correa speak for sustainable development with social justice and equality.

He criticized distribution of wealth in the last years and defended an aggressive commercial policy, to control the deficit of the non-oil commercial balance.

Although he is opposed to dollarization, Correa committed himself to keeping it during his four years of presidential mandate.

He questioned the analysts who worry about inflation and do not take care of the unemployment and sub-employment rates, which have increased because of migration.

He said economic recipes from the International Monetary Fund and other financial institutions caused a greater inequality, and he stated this situation is now changing in Latin America.

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