Ecuador president demands investigation into Correa’s oil projects

Ecuador president demands investigation into Correa’s oil projects

Ecuadorean President Lenin Moreno has instructed the country’s prosecution team to investigate $4.9 billion of oil related infrastructure projects, claimed to have been looted during his leftist predecessor’s tenure.

According to Moreno, five projects built during Rafael Correa’s presidency were subject to significant cost overruns, operational failings and non-transparent bidding processes.

The current president has been in office since May 2017 after gaining the approval of Correa during his campaign, but relations frayed between the two over Moreno’s market-friendly policies.

In 2018, Moreno requested the United Nations unit to undertake a technical and economic investigation into the five projects.

Correa, who lives in Belgium after being order to go to jail in Ecuador as part of a kidnapping case, denies the allegations, describing them as a smear campaign.

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