Belts tightened

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The Independent Online
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

Mr Duran succeeded Rodrigo Borja, 57, one of Latin America's last defenders of state intervention in the economy.