Business lobby complains that Moreno continues Correa policies but says it has not given up hope

Calling President Lenin Moreno plan to reactivate the Ecuadorian economy “Correismo by another name,” Roberto Aspiazu, executive director of the Ecuadorian Business Committee (CEE), said Thursday that the business community has so far been disappointed with the new administration.

Roberto Aspiazu, executive director of the Ecuadorian Business Committee

“We expected much more after the dialogue in June and July. Yes, they listened but it seems that they didn’t pay attention to what we said,” Aspiazu said. “Unfortunately, what we have seen in most cases is a continuation of the failed policies of Correa regime, many of them carried by the same people who worked for that regime.”

Of particular disappointment, he said, was the fact only one of 11 recommendations that the CEE made for Moreno’s Economic Reactivation Law were included in the final wording. “We are pleased that the management of the electronic money system will be transferred to the private banks but this only a convenience for consumers, not a measure that that will strengthen the economy.” He added that $12.6 billion was added to the national debt in 2017, and said “such numbers are unsustainable” looking to the future.

Aspiazu said CEE and other business organizations have not given up hope for major economic reform. “We realize we must be patient and wait until the referendum campaign is over,” he said. “This is where most of the government’s energy is currently aimed and, like the vast majority of Ecuodorians, we support the questions. After the election, however, we will mount a major campaign for economic reform.”