QUITO (Reuters) - Ecuador’s Finance Minister Fausto Herrera is stepping down for health reasons after three years in the cabinet, President Rafael Correa said on Thursday.
“The economic team led by Fausto Herrera has done extraordinary work,” Correa said during a meeting at the presidential palace in Quito. “He is leaving his post for health reasons, but the rest of the economic team is staying.”
The announcement came days after Herrera steered through a $750 million bond issue to finance the OPEC member’s budget during difficult times due to the low price of crude.
He had been in Correa’s Cabinet since 2013.
The president did not give details of Herrera’s health, nor say who would replace him.
Reporting by Jose Llangari and Alexandra Valencia; Writing by Andrew Cawthorne; Editing by Alistair Bell