Login

Register

Become a member of The Cuenca Dispatch and access exclusive weekly reports on Ecuador's economy, politics, crime and more that you will not find published anywhere else on the web.

Ecuador's Original English Language Newspaper

Government says figure calculated for corruption between 2007 and 2019 was $67.729 billion, not $70 billion

Published on September 28, 2021

If you find this article informative…

Members receive weekly reports on Ecuador’s economics, politics, crime and more.

Start your subscription today for just $1 for the first month.

(Regular subscription options $4.99/month or $42/year/)

Click here to subscribe.

The Citizen Revolution movement demanded that the head of state clarify that this economic damage, attributed to the last fourteen years, is not real

According to the national government, between 2007 and 2019 the total amount for corruption in the country is estimated to actually be $67.729 billion, not $70 billion.

On September 13th, during the signing of the memorandum of understanding with the United Nations (UN) for the formation of the Inter-Institutional Anti-Corruption Commission, President of the Republic, Guillermo Lasso used the $70 billion figure, which promptly led to a demand for clarification by the leaders and assembly members of the now political movement Citizen Revolution, led by former president Rafael Correa.

The Citizen Revolution leaders had wanted a retraction by Lasso, however, on September 23rd the presidential advisor for anti-corruption matters, Luis Verdesoto, sent them a document in which he explains that the figure was obtained from an analysis carried out by technical teams of the government, based on the investment amounts for public works and public purchases made between 2007 and 2019.

Reference is made to eleven areas of investment projects such as hydroelectric plants, refineries, pipelines, buildings, airports, gas liquefaction plant, maritime terminal, roads and highways, educational units, and hospitals, from which it was concluded that an approximate amount of markup was 34%.

That 34% for public investment would mean in corruption, adjusted for inflation, $36.126 billion in the analysis period.

Meanwhile, between 2009 and 2019, said percentage in public purchases tentatively amounts to $31.603 billion in corruption.

This is how “for the period 2007-2019 the total amount of corruption is close to $ 67.729 billion,” cites the document signed by Verdesoto, and which was sent to the correista bench of Unión por la Esperanza (UNES), as well as the authorities of different functions of the State.

In the document, Verdesoto clarified that corruption is configured “when in the exercise of an authority, without a sense of the common good, it makes use of its powers of contracting works and officials seeking private benefits.”

On September 13, Lasso stated that corruption would have cost Ecuador $70 billion in the last fourteen years, which would be equivalent to 100% of the public debt.

This generated unease in the Correísmo, which promoted a campaign on social networks, in which they mentioned that the Inter-American Development Bank (IDB) does not have a report that indicates a damage to the State for $70 billion during the Correa government between 2007 and 2017.

0 Comments

Submit a Comment

Your email address will not be published.

Share This