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Ecuador Central bank governor resigns admitting he has no Economics degree

Thursday, December 20th 2012 - 05:33 UTC
Full article 20 comments
Pedro Delgado is the cousin of President Correa and has been in the job since November 2011 Pedro Delgado is the cousin of President Correa and has been in the job since November 2011

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

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

Categories: Politics, Latin America.

Top Comments

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  • ChrisR

    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.

    Dec 20th, 2012 - 10:41 am 0
  • Idlehands

    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.

    Dec 20th, 2012 - 12:26 pm 0
  • Shed-time

    foul nepotism rules in the land of julian assange.

    Dec 20th, 2012 - 02:39 pm 0
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