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Calls for ‘private sector to invest’ is a further departure from his socialist roots

Gideon Long in Bogotá

Ecuador’s president Lenín Moreno has announced a package of economic measures that aims to pare back the country’s bloated state apparatus and promote private enterprise, in a further departure from his socialist roots.

In a televised address on Monday evening, Mr Moreno said his government would embark on a programme of public-private partnerships in the infrastructure, oil, energy, mining and telecoms sectors that would generate $7bn of investment by 2021, raising $1.6bn for state coffers.