Ecuador to implement economic policy with social focus

People's Daily Online, 9/6/07

Ecuadorian President Rafael Correa on Friday announced that his government will give up the "neo-liberalism" in its economic policy and seek the implementation of an economic project of social solidarity.

Correa highlighted the value of the project for social solidarity that conforms to the Ecuadorian culture and its tradition of "minga," or collective work, in the country's indigenous communities.

"We are here to put an end to the sad neo-liberal night and begin this 21st century characterized by solidarity," he said.

Correa also referred to the law project to reduce interest rates, as a means to "stop the abuse of power."

He attacked the opponents of the project, which was approved in the first session by congress, saying they are those who want to control the interests of banks.