Ecuador’s Correa plans no sweeping reforms, wants investment

Ecuadorean President Rafael Correa wears a gas mask in QuitoQUITO (Reuters) – Beaming after his re-election last weekend, Ecuador's President Rafael Correa said on Thursday he is not planning sweeping reforms and instead hopes to attract investors and diversify the economy from its dependence on oil exports. Since taking office in 2007, the U.S.-trained economist defaulted on $ 3.2 billion of debt, rewrote contracts with oil companies to squeeze more revenue from them, and pushed through a new constitution that gave him more power. "Everything has been done and there will not be any more big changes. There will not be tax reforms either. …




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