Ecuador President Demands Probe Into Predecessor’s Oil Projects

www.oann.com | 9/25/2018 | Staff
duck.ie (Posted by) Level 3
QUITO (Reuters) – Ecuador’s President Lenin Moreno on Thursday asked the country’s prosecutor to probe $4.9 billion of oil-related infrastructure projects, alleging that the OPEC nation’s money was looted during the decade-long tenure of his leftist predecessor.

Moreno said there were massive cost overruns, operational failings and non-transparent bidding processes at the five projects built during Rafael Correa’s presidency, including a $2.2 billion upgrade to the Esmeraldas refinery.

Ecuadoreans - Money - Cost - Half - Moreno

“Nearly $5 billion of Ecuadoreans’ money, when it should have cost half that,” Moreno said in a national broadcast. “This theft of public funds cannot go unpunished.”

Moreno took office in May 2017 after earning Correa’s endorsement during the campaign, but the two later fell out...
(Excerpt) Read more at: www.oann.com
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