Ecuador Public Debt is at sustainable level per manager of Central Bank

(Prensa Latina) The public debt of Ecuador is at sustainable levels, as 33 percent of the Gross Domestic Product (GDP) is still below the limit established by the Constitution, explained today the manager of the Central Bank, Diego Martinez.
The respect to the limit imposed in the legislation approved in 2008 was something the oficial highlighted in an interview tiven to the local news agency Andes and, at the same time

recalled that in the decade of 1980, the governments of that time had debt levels of almost 90 percent of the GDP.

According to Martinez, the administration of president Rafael Correa received at the beginning of his mandate (2007) a debt level of 28.8 percent of the GDP and after the four first years of mandate it was reduced to 16.4 percent.

In those moments, the country profited from the high prices of petroleum, main export item of Ecuador and its payment capacity, to inaugurate a process of more investments, he said. Read Article

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