Ecuador's ex-president could face corruption charges
QUITO, Ecuador (Reuters) -- Ecuador's anti-corruption office requested
Thursday that former president Jamil Mahuad and six economic advisors be
prosecuted over a March 1999 decree he issued freezing bank accounts.
Ramiro Larrea, president of the anti-corruption office, told a news conference
the attorney general would decide whether to prosecute Mahuad, who was
deposed in a coup in January, on charges of abuse of executive power and
violation of constitutional law.
Overwhelmed by strikes, bank failures and runaway inflation, Mahuad froze
between $3.2 billion and $3.6 billion in assets in March 1999 to try to
stop
speculation against Ecuador's currency, the sucre.
The impoverished Andean country of 12.4 million people also partially defaulted
on its $13 billion public sector foreign debt in 1999. Ecuador's gross
domestic
product contracted 7.5 percent in 1999, and efforts by Mahuad like the
freeze on
deposits helped trigger massive protests that led to the coup.
Mahuad's successor, President Gustavo Noboa, has since junked the
inflation-plagued sucre, designating the U.S. dollar as the official currency.
The anti-corruption office charges also cite ex-finance minister Ana Lucia
Armijos and ex-bank superintendent Jorge Egas Pena, among others.