Adds comments from new finance minister
QUITO, Oct 7 (Reuters) – Ecuador on Wednesday named economist Mauricio Pozo as the Andean country’s finance minister to replace Richard Martinez, who resigned after carrying out a successful bond restructuring plan and negotiating a loan with the International Monetary Fund.
Pozo, who previously served as finance minister from 2003 to 2004 under President Lucio Gutierrez, said he will focus on economic reactivation and strengthening Ecuador’s dollarization.
“I want to promote dialogue on the reforms that the country needs,” Pozo said during an event with Martinez and Ecuador’s President Lenin Moreno. “The country is in an adjustment process and it is only fair that it also have a recovery process.”
Martinez, who is leaving to work for the Inter-American Development Bank, recently completed a $6.5 billion financing agreement with the IMF. He also led the renegotiation of some $17.4 billion in sovereign bonds