Ecuador’s new president sworn in
Conservative businessman Guillermo Lasso is sworn in as Ecuador’s new president. He delivered a harsh speech to Congress on the enormous economic and social challenges facing Congress.
The 65-year-old surprised everyone Won last month’s election“The former ruler of Ecuador defeated the country by succumbing to authoritarianism and ‘obscene cults’. leadership“-A strong man who often dominates Latin American politics.
He told guests, including Brazilian President Jal Bolsonaro and Spanish King Felipe: “Today we have received a country with an unemployment rate that has reached the highest level in history. The country is unable to cope with a cruel epidemic. Stand out because of illness. “Other countries / regions in similar situations have solved this problem in a more orderly and efficient manner, and most importantly, there is no corruption.”
Faced with a pedestrian accident in 2013, Lasso looked weakened and walked on crutches due to malfunction. huge challenge As the leader of Ecuador.
lassoEcuador made a fortune in banking before entering politics and trying to win the presidency for the third time. He described Ecuador as “a country full of guilt, and even the most innocent Ecuadorians cannot stand it” and “a country that has let young people down in terms of education and creating opportunities”.
Even before the coronavirus pandemic, the country’s economy was struggling. China contracted nearly 8% last year, and the central bank expects to recover just 3.1% this year.
Debt climbed to around 65% of GDP and the budget deficit widened. As the only South American country to be officially dollarized, Ecuador has limited what it can do to stabilize its finances.
Last year he accepted $ 6.5 billion loan program Cooperated with the International Monetary Fund (IMF), but was hit by the pandemic and found it could not meet the requirements. Lasso refused to consider part of the tax increases requested by the fund.
He appointed Simón Cueva, a 53-year-old economist, as finance minister.
“It’s a good date,” said Sebastián Hurtado, director of Prófitas, a local political risk consultancy. “Apart from a brief experience at the central bank, Cueva spends most of his time in the private sector and in university research. He’s not as neoliberal as some of the other economists near Lasso, and we can see the law. The importance of social policy has exceeded people’s expectations.
Cueva said Ecuador will start negotiations with the International Monetary Fund to adjust the current plan in the coming months.
Hertado said, “I hope the Lasso government establishes a healthy relationship with the fund.” “The problem will not come to an agreement. He will succeed. “
Another urgent challenge facing the Lasso government is the pandemic.
According to the Financial Times analysis, since the health emergency, the death toll from overweight in Ecuador is the second worst in the world. chaotic: Last year there were five ministers of health.
Russo has said his government will oversee the vaccination of 9 million people (more than half of the total population) in the first 100 days – an ambitious target for countries that manage less than 2 million people.