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.

Wednesday, July 18, 2007

Ecuadorian Gov't for Socialism

Ecuadorian Gov't for Socialism
Economy Minister Ricardo Patino
Quito, Jul 16 (Prensa Latina) The Ecuadorian government currently moves forward the construction of a 21st century's socialism, solidary in the country and nothing will take it back, Economy Minister Ricardo Patino stated.

"The executive has the commitment to put the national economy at the service of people, of the most vulnerable class," said Patino in a speech broadcast by the national TV channels.

He pointed out that the most important thing is the social aspect, but highlighted the need of making transcendental changes in the legislation, so the State budget benefits all Ecuadorians.

The minister talked of a law imposed in 2002 by the International Monetary Fund that prohibits investing more resources in health, education and social welfare.

Patino advocated for reforming the law and fulfilling people's mandate so that the fund destined to those spheres grow over $200 million next years.

The official stressed the wish of reducing the amount destined to pay off financial obligations and stated that from each $100 of the budget the country will pay $25 this year and expects to use $12 in 2010.

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