Sunday, April 12, 2009

Ecuador #1 in Economic Growth in Latin America - The Latin American Herald

Ecuador President Rafael Correa said that his country’s economic growth in 2008, which according to the latest estimates was 6.5%, was among Latin America’s highest despite the international financial crisis -- and despite defaulting on a portion of the nation's international debt.

“The latest estimates from the
Banco Central say that total growth in 2008 was 6.5 percent – that’s the highest in a long time,” Correa said on his customary Saturday radio and television program.

He also said that if the oil sector were removed from the calculations, the Ecuadorian economy last year grew 7.95 percent, which would represent the highest surge since the 1970s when Ecuador enjoyed an “oil boom.”

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