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In 2006, Ecuador elected Rafael Correa President (See Correa leads in Ecuador Presidential election... by whataboutbob). Following the Chávez trail of hot rhetoric and socialist reforms, he broke with WTI, IMF, US free trade association (and military presence). The result?

Bloomberg.com: Latin America

Sept. 20 (Bloomberg) -- Ecuador registered a budget surplus in the first half that will allow the government to keep investing, President Rafael Correa said.

Ecuador's central government had a surplus of $508 million and public-sector entities such as municipalities and state-run universities had a $2.17 billion surplus, he said today in his weekly television address.

``This surplus is excessive,'' Correa said. ``We have to boost our efficiency in investing.''

On Sept. 28, Ecuador will hold a referendum on a new constitution that calls for raising spending on health and education. Correa this week replaced Finance Minister Wilma Salgado after she said that Ecuador faces a budget deficit of about $2.4 billion next year and recommended slowing the pace of spending.



*Lunatic*, n.
One whose delusions are out of fashion.
by DoDo on Mon Sep 22nd, 2008 at 04:04:05 AM EST
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