December 17, 2016 / 8:00 PM / 9 months ago

Ecuador's leftist president reshuffles economic team

QUITO, Dec 17 (Reuters) - Ecuador’s President Rafael Correa restructured his economic team on Saturday, moving Economic Policy Coordination Minister Patricio Rivera to be the nation’s new finance minister.

Rivera replaces Fausto Herrera, who stepped down for health reasons after three years in the Cabinet.

Central Bank boss Diego Martinez took Rivera’s post at the economic policy coordination ministry. Martinez was replaced at the bank by Madeleine Abarca, the vice-minister of finance.

Correa praised his top economic officials, who have just steered through a $750 million bond issue to finance the OPEC member’s budget during tough times due to low crude prices.

“We’ve done well and the economy is recovering,” Correa said in his weekly address to the nation.

“Time will show how well we have handled the economy.”

The leftist leader leaves power in February 2017 after ruling the Andean nation for a decade. (Reporting by Alexandra Valencia; Writing by Andrew Cawthorne; Editing by Paul Simao)

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