Financial Times FT.com

Ecuador official accused of skewing markets

By Hal Weitzman in Lima

Published: July 12 2007 19:26 | Last updated: July 12 2007 19:26

Ecuador’s Congress is ex­pected to censure the fin­ance minister on Friday over accus­ations he deliberately mani­pulated international bond markets for financial gain.

The move is likely to sully Quito’s reputation further in the eyes of investors. Although the allegations may never be proved and the censure motion itself is non-binding, the scandal has cast a pall over President Rafael Correa’s leftwing administration just seven months after it assumed office.

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