Ecuador fi­nance min­is­ter quit­ting on health grounds

Kuwait Times - - BUSINESS -

QUITO: Ecuador’s Fi­nance Min­is­ter Fausto Herrera is step­ping down for health rea­sons af­ter three years in the cabi­net, Pres­i­dent Rafael Cor­rea said. “The eco­nomic team led by Fausto Herrera has done ex­tra­or­di­nary work,” Cor­rea said dur­ing a meet­ing at the pres­i­den­tial palace in Quito. “He is leav­ing his post for health rea­sons, but the rest of the eco­nomic team is stay­ing.” The an­nounce­ment came days af­ter Herrera steered through a $750 mil­lion bond is­sue to fi­nance the OPEC mem­ber’s bud­get dur­ing dif­fi­cult times due to the low price of crude. He had been in Cor­rea’s Cabi­net since 2013. The pres­i­dent did not give de­tails of Herrera’s health, nor say who would re­place him.

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