Thursday, December 20th 2012 - 05:33 UTC

Ecuador Central bank governor resigns admitting he has no Economics degree

Ecuador's central bank president, Pedro Delgado, resigned on Wednesday after admitting that he did not hold a university degree in economics.

Pedro Delgado is the cousin of President Correa and has been in the job since November 2011

Delgado faced accusations in recent weeks in local media that he lied when he said that he had obtained a degree in economics.

“I submit my irrevocable resignation as head of the central bank ... and I do it because I made a grave mistake 22 years ago. I made the wrong choice and to achieve an academic objective I made a mistake that now is costing me dearly,” he told reporters.

”I presented a document with no value that certified that I had a degree that I did not hold” in order to enter a business school to study for an MBA, Delgado said.

Delgado, the cousin of Ecuadorean President Rafael Correa, was appointed head of the Andean country's monetary authority in November 2011.

Correa is up for re-election in February 2013. The populist leader wants four more years in office so he can continue to expand state control over the Andean nation's economy

20 comments Feed

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1 ChrisR (#) Dec 20th, 2012 - 10:41 am Report abuse
Another corrupt official caught out but this time he has paid the price.

Pity all the other fraudulent ministers in SA don't do the same.

Mind you, AG would not have anybody left to pick from.
2 Idlehands (#) Dec 20th, 2012 - 12:26 pm Report abuse
Oops - though a degree in economics wouldn't really qualify you to run a central bank anyway. This is about probity rather than ability to do the job. What a muppet.
3 Shed-time (#) Dec 20th, 2012 - 02:39 pm Report abuse
foul nepotism rules in the land of julian assange.
4 GeoffWard2 (#) Dec 20th, 2012 - 02:45 pm Report abuse
This is an Ecuadorian lying justification of nepotism.

I remember Dilma, the Presidenta of Brasil, claiming she had a PhD in Economics. In fact she never completed her Masters.
But because she was Lulas 'plaything' designed to be the puppet-in-office until he could get back in, lies didn't matter a damn.
A monkey could have been voted in - as long as Lula said so.
(And the opposition campaign by Serra was so abysmal that it was 'no contest'.)

In spite of everything, Dilma turned out a good president .... so far.
5 ChrisR (#) Dec 20th, 2012 - 03:26 pm Report abuse
What is it about these SA Presidents?

Are they afraid of looking foolish if they haven't got a Degree or a Masters, never mind a Doctorate?

I have employed a number of people who, having the correct qualifications, showed a brilliant aptitude for another discipline and unless it was a legislative requirement that they hold professional qualifications, as it was in my case, I never hesitated to let them have a go. I was never disappointed.

I cannot imagine that Pepe has any form of advanced education and despite his obvious weaknesses which have more to do with character than ability, he is at least the equal of the present bunch in charge of SA.
6 Shed-time (#) Dec 20th, 2012 - 04:07 pm Report abuse
I know a frump who has unproven claims of having a degree in law and then apparently had a very successful law career which led to her husband accruing $530mil into an offshore personal wealth fund (the same amount YPF gave to Santa Cruz in royalties).

These south american 'degree holders' are quite something else.
7 Idlehands (#) Dec 20th, 2012 - 04:49 pm Report abuse
Are there any other successful lawyers in Argentina that are as wealthy as CFK? It would be a rather good guideline to judge her.
8 reality check (#) Dec 20th, 2012 - 05:04 pm Report abuse
Forgot about old cobber Jules! Wonder what Santas bringing him? Ecuadorian Citizenship. Wonder, if they told the FO that a post had just come available for him, back in the New Country, would they let him go?
9 redpoll (#) Dec 20th, 2012 - 08:32 pm Report abuse
Ecomonists? If you laid them all end to end around the world they would never reach a conclusion
10 Ayayay (#) Dec 20th, 2012 - 09:22 pm Report abuse
If he handled the mba courses, then good job. In the U.S. you can take tests to give you college credits if you already.have the knowledge.
11 Shed-time (#) Dec 20th, 2012 - 09:58 pm Report abuse
@10 I think the issue is more about the fact he lied.
12 reality check (#) Dec 21st, 2012 - 06:24 am Report abuse
It's not the lying their pissed off about, that's normal. Their pissed off cos he got caught!!!!
13 Shed-time (#) Dec 21st, 2012 - 02:17 pm Report abuse
I wonder what julian 'oubliette' assange had to say about the widespread blight of nepotism in his newly adopted country.

No doubt he said nothing.
14 Gordo1 (#) Dec 21st, 2012 - 02:27 pm Report abuse
This is a report on Assange's “drivel” ridden speech of yesterday, 20/12/2012, from a balcony of the Ecuadorean Embassy in London.
15 reality check (#) Dec 21st, 2012 - 09:38 pm Report abuse
Did you hear that his supporters actually sang, the christmas carol,. “Oh come let us adore him.” As he stood in front of them on the balcony!

Bloody hell what a bunch of Anoraks!!!!!!!!!

Would not suprise me if we saw some of them holding vigil outside the Embassy on Christmas morning.

16 British_Kirchnerist (#) Dec 24th, 2012 - 11:27 am Report abuse
Pity he made this mistake long ago, as people here say the lack of a degree is itself no reason he shouldn't be up to the job. And once it came to light he went, so no this isn't proof of a corrupt administration but quite the opposite...

#4 Yes Dilma has been a good President, and your comment there is the first corruption allegation I've read about her...
17 GeoffWard2 (#) Dec 24th, 2012 - 12:34 pm Report abuse
B-K 16
this wasn't a corruption allegation, it was simply her failing to correct public statements that she came with a PhD attached.
But if you want to talk about international terrorism ....
18 ChrisR (#) Dec 24th, 2012 - 02:21 pm Report abuse
@17 GeoffWard2

No, it was another Dilma! Slim, attractive, and imprisoned by the Military.

19 British_Kirchnerist (#) Dec 27th, 2012 - 02:27 pm Report abuse
#17 International terrorism?! So she was wrong to struggle against the fascist junta?!

#18 A lot of women are slimmer and more attractive in their youth, and Dilma is not unnatractive even now; Cristina is an exception who just keeps getting more beautiful =)
20 ChrisR (#) Dec 27th, 2012 - 04:52 pm Report abuse

No but she was wrong to standby a see an American Officer killed in front of his wife and children by the cell she commanded. Now she claims SHE never killed anyone: ‘controlling mind concept’ anyone?

You are just one sick idiot over TMBOA. Don’t you have at least ONE attractive woman you know in the real world who would talk to you, perhaps get you over it, maybe a bit of medical help?

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