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Ecuador appoints new finance minister

A former finance minister under former President Rafael Correa will return to the post after Carlos de la Torre resigned without giving reasons for his departure, Reuters reported.

Ecuador President Lenin Moreno on March 6 named Maria Elsa Viteri to replace de la Torre. Viteri served as the finance minister from September 2008 to April 2010.

Low oil prices and heavy debt are weighing on Ecuador's economy, and the government is preparing to announce a plan to revive growth, according to Reuters.