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  The Ecuadorean Debt Audit Commission presented its final report
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Source: IFIs Latin American Monitor
Tue Nov 25 2008

On November 20th was officially presented the report of the Committee for the Integral Audit of Public Credit of Ecuador -CAIC- at an event convened by President Rafael Correa, in the Auditorium of the CIESPAL of Quito. Members of social movements and organizations were present at the event to support this action which constitutes a great contribution to the fight against debt.

In the presentation intervened Karina Saenz, member of the CAIC, and Alejandro Olmos, who gave a financial and legal report. Then the Coordinating Minister for Politics and President of the CAIC, Ricardo Patino delivered to President Correa the results of the audit. It was noted that during the administrations of Oswaldo Hurtado, Gustavo Noboa Bejarano, León Febres Cordero, Sixto Durán Ballén and Jamil Mahuad, there are indications of illegality in certain portions of the debt contracted.

At the end, the President Correa thanked the investigators and auditors from the Committee and stated that the Ecuadorian government will not pay the external debt for illegitimate, corrupt and illegal, after stressing that "their weight must be transferred by equal parts to those responsible for acquiring it with bad art, blackmail and betrayal. Everyone has to bear its responsibility and pay using their property as appropriate."

Related information:

- Final report of the Committee (pdf format - Spanish language)

- Ecuador postpones debt repayment, launches critical audit report, by Eurodad

- Letter of support to the audit process in Ecuador, by Jubilee South

- Ecuador advances the fight against illegitimate debt, by Beverly Keene (Jubilee South)

- Ecuador: Pay debts, not scams, by Eduardo Tamayo G. (ALAI)

- Ecuadorean government postpones payment of debt interests, by IFIs Latin American Monitor

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