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.

Monday, November 24, 2008

Ecuador Parliament Analyses Foreign Debt

Quito, Nov 21 (Prensa Latina) The Ecuadorian Legislative and Supervising Commission is holding a public plenary session to analyze everything that happened with the resources contracted by the country between 1976 and 2006.

Such decision was adopted by the institution's Chair Fernando Cordero, after presentation on Thursday of the Foreign Debt Audit Commission denouncing illegalities and irregularities in the renegotiation of debt tranches.

The members of this commission are expected to participate and explain their work in one year and 4 months, collecting documents related with the country's finance and debts.

It has not been ruled out that any legislator proposes approval of an agreement that demands investigation, and political and criminal responsibilities against the ex officials involved in mishandling of the economic duties in the last 30 years.

Previously, the Democratic Popular Movement bloc leader Jorge Escala sent a letter to Ecuadorian President Rafael Correa, demanding for indictment of ex head of State Gustavo Noboa and his ex Finance Minister Jorge Gallardo, said the national media.

His colleague Diego Borja, of the Poder Ciudadano Movement, highlighted theneed to shape a working group that monitors the denunciations against the ex government officials.

With this, they seek that everything that was denounced and presented to the public opinion by the Audis Commisison does not remain as just one more scandal, he said.

Besides this legislative authority, the Attorney General's Office announced that it would create a multidisciplinary group to investigate the ex officials involved in rigged negotiations of the foreign debt.

Attorney General Washington Pesantez confirmed that inquiries about the case would begin, but alerted to the need to have a National Court of Justice to solve the trial.

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