Ecuadorian President Daniel Noboa has named Luis Alberto Jaramillo the nation’s new finance minister and approved Ines Manzano as permanent energy and oil minister, presidential decrees released on Wednesday and Thursday state.
Jaramillo, former minister of production, will replace Carlos Zaldumbide in that position. The cabinet shake-up comes on the heels of a surprisingly good first-round result by leftist contender Luisa Gonzalez in Ecuador’s presidential election, which has primed the runoff in April as a close call.
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The reshuffle occurs as Ecuador deals with economic troubles, with the International Monetary Fund (IMF) reporting in December that it had finalized the first review of its extended fund facility for Ecuador, opening the way for a $500 million disbursement.
Former finance minister Juan Carlos Vega, who held the position since November 2023, said he was quitting through social media. In a farewell post, Vega emphasized reinforcing government revenues as well as complying with debt during his time at the helm. Manzano, officially named as energy minister as of now, first took the position amidst system-wide scheduled power outages in October.
In the meantime, Noboa has beefed up security by sending the military to cities and prisons to counter increasing gang violence. His government is under increasing pressure in the run-up to the next election as Ecuador struggles with economic and security issues.
