Economists say larger economic problems still lie ahead for Ecuador

nytimes.com/ NICHOLAS CASEY reported In Ecuador, a 7.8-magnitude earthquake a week ago helped set off what many say was a debate years in the making. Over the last decade, the government made significant investments in infrastructure and education while depleting emergency funds set aside for disasters like earthquakes, analysts say. Spending on government salaries also ballooned as the government grew……..Ecuador, however, failed to save much income from the high energy prices for rainy days like these. Mr. Hidalgo, the economist, said that between 2010 and 2013, the price of oil exceeded the government’s budget projections. Had it saved the surpluses from those years, it would now have a $7.5 billion cushion, according to his calculations. Read Article

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