Ecuador Central Bank CEO Resigns

The chief executive of Ecuador’s Central Bank, Mauricio Pareja, has resigned. His decision to step down follows pressure from the Bank’s board of directors, according to local media. However, the Central Bank denied any meeting between the board and Pareja had taken place. The banking industry has been the latest target of President Rafael Correa, who is seeking to lower banking costs in the country. The name of María de Lourdes Andrade, an advisor to the president, has been suggested as a likely replacement.