Correa Calls For Banking Regulator To Step Down

Ecuador’s president, Rafael Correa, has called on the head of the country’s banking regulator, Alfredo Vergara, to step down. The move is part of a push by the government to get private banks to lower interest rates and charges. Vergara has criticized Correa’s attempts to intervene in the banking sector while Correa has accused the superintendent of obstruction. Vergara was appointed head of the SBS by Congress in March.