Ecuador appoints new central bank chief
The government appointed Vallejo, a career politician who was most recently the country's agriculture minister, to the central bank's board of directors last Tuesday following Robert Andrade's shock departure after less than five months at the helm.
Andrade's replacement had to come from the five-strong board of directors, who also decide who will head the central bank. Unlike Andrade, who trained as an economist, Vallejo's degree is in agricultural engineering.
Vallejo confirmed on Wednesday, a day after becoming president, that Ecuador would carry on using the dollar, which it adopted as the national currency in 2000, for the time being though he added that the country could abandon the greenback if remittances or oil prices fall.
Click here to read the central bank's statement (available in Spanish only)
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