Mauricio Pozo, the New Minister of Finance

ECUADOR - In Brief 07 Oct 2020 by Magdalena Barreiro
Richard Martinez quits after finishing what we consider a remarkable job during the time he has been Minister of Finance. He achieved the renegotiation of private bonds, and has been able to consolidate a new agreement with the IMF that, given its conditions and scope, is quite unprecedented. Mauricio Pozo, our colleague at the Fiscal Policy Observatory is taking the post, and will hopefully finish his task together with the government of President Moreno. Mauricio has ample experience on the public sector and was Minister of Finance with Lucio Gutierrez in 2003 when he signed an agreement with the Fund. He will have to ensure that Ecuador passes with flying colors the forthcoming reviews from the IMF next December 15th and April 15th, respectively to guarantee the reception of additional $2,400 million --$2000 million in December and $400 in April 2021. We believe that President Moreno has made an excellent nomination and are confident that Minister Pozo will exercise the necessary leadership in the coming months.

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