Bloomberg News

Ecuador Economic Policy Minister King Announces Resignation

October 26, 2011

(Updates with minister’s comments in second paragraph.)

Oct. 26 (Bloomberg) -- Ecuador’s Economic Policy Minister Katiuska King, who coordinated President Rafael Correa’s macroeconomic policies within the Cabinet, resigned today, citing policy difference with the president.

“Given certain differences, the appropriate thing to do is to step aside,” King, a 35-year-old economist appointed in April 2010, said to reporters in Quito. King is the first minister to step down since Correa on Oct. 21 asked his Cabinet to offer their resignations.

King, whose ministry nominally oversaw the South American country’s central bank, said there was “persistent resistance” to her efforts to increase the role of government-controlled banks in the economy. She also criticized ongoing trade talks with the European Union, a sign that her exit means Correa plans to push forward with talks stalled since 2009.

“In trade policy, it is indispensable not to lose sight of the critical posture of the revolutionary process,” King said. “It is something that should continue, but without losing sight of our sovereignty.”

Correa said he would announce new ministers on Nov. 7. King didn’t say who her replacement might be.

--Editors: Philip Sanders, Harry Maurer

To contact the reporter on this story: Nathan Gill in Quito at ngill4@bloomberg.net.

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net.


American Apparel's Future
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus