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Thursday, July 26, 2007

Ecuador's Patino May Assume New Cabinet Position, Universo Says

By Guillermo Parra-Bernal

July 25 (Bloomberg) -- Ecuadorean Finance Minister Ricardo Patino may be tapped to run a new cabinet position in which he would have full control of policy matters for the country's coastal region, El Universo said on its Web site.

Patino may leave the finance ministry and would be replaced by his deputy, economist Fausto Ortiz, the Quito-based newspaper reported, citing officials familiar with the situation. The new ministry for the coastal region will be based in Guayaquil and not in Quito, the nation's capital, Universo said.

Patino said he and President Rafael Correa have held talks over the creation of the new cabinet post since February, Universo said. Correa is scheduled to make the announcement today, Universo said.

Patino's spokeswoman Marcela Cevallos declined to comment on the report in a phone interview with Bloomberg from Quito.

(El Universo 7/25)

To contact the reporter on this story: Guillermo Parra-Bernal in Sao Paulo at

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