Ecuadors Foreign Debt

The problems of foreign debt were the main components of national history for many people and also for Ecuador, corrupt management, in many cases, negotiations and led to commit resources from important economic resources to be diverted for his service, neglect others, especially health, education and housing. In order to pay external debt obligations, the country must inevitably meet with the provisions of the international financial institutions (letter of intent, structural adjustment plans), leading to prioritize the State’s financial obligations at the expense of social obligations for the Ecuadorian people.
External indebtedness is a practice that has accompanied us since the dawn of independence to the present day.
Besides being a financial commitment is also a Gordian knot, as Eloy Alfaro qualify, because it impedes economic and social development of our countries, structural adjustment programs (economic package) are caused by external borrowing. The General State Budget over the republican has provided high percentages for the payment of debt at the expense of attention to health, education, housing and infrastructure.
An important component of the national debt is private debt acquired abroad by private financial institutions and employers, in the recent years has grown enormously, so we must be vigilant because their law firm growth involves payment difficulties in the sector private and may be repeated that attorneys the State lawyers assume the duties as happened with sucretizacion private external debt, thereby increasing the public external debt.