Mr Duran succeeded Rodrigo Borja, 57, one of Latin America's last defenders of state intervention in the economy.
Welcome to the new Independent website. We hope you enjoy it and we value your feedback. Please contact us here.
QUITO (AP) - Sixto Duran- Ballen, 71, was inaugurated as President of Ecuador and warned that further sacrifices would have to be made with the introduction of free-market reforms to bolster the struggling economy. He is expected to devalue the sucre to boost exports, promote foreign investment in the vital oil industry, privatise loss-making state enterprises and eliminate subsidies. A key role will be played by Vice-President Alberto Dahik, a Princeton-trained economist