LatAm Briefs: Kircher On IMF, OCP President Resignation

(Energy Analytics Institute, 24.Mar.2021) — Energy briefs from the Latin America and Caribbean region including: Argentina’s Cristina Kircher insisting the International Monetary Fund (IMF) give Argentina lower debt rates, the president of Caracas-based CAF resigning, and the president of Ecuador’s OCP resigning, among others.

Kircher Insist IMF Give Argentina Lower Rates

Argentina’s Vice President Cristina Kirchner insisted this week the International Monetary Fund (IMF) give the South American country lower interest rates.

Her comments came as Argentina’s Economy Minister Martín Guzmán continues in the US as part an North American tour to visit with IMF officials in an attempt to restructure around $44bn in debt the South American country has with the institution, the daily newspaper Clarín reported 24 March 2021.

CAF President Luis Carranza Resigns

CAF President Luis Carranza resigned his post and will end his term in April 2021. Carranza’s departure, which was to take place early next year, was expedited due to political and internal issues specific to CAF, the daily newspaper El Diario reported on 24 March 2021.

OCP Executive President Resigns

Source: Courtesy photo

The executive president of Ecuador’s Heavy Oil Pipeline (OCP), Andrés Mendizábal, has stepped down from his post.

Mendizábal had been part of negotiations regarding transportation rates and took part in team discussions to solve issues related to environmental contamination caused by pipeline ruptures at the OCP along with the SOTE due to the regressive erosion of the Coca River, according to reports 24 March 2021 in the daily newspaper El Universo.

MERNNR Responds To Letter About OCP Payments

The head of Ecuador’s Ministry of Energy and Non-Renewable Natural Resources (MERNNR), René Ortiz, partially responded to a letter dated 17 March 2021 from the General Legal Secretariat of the Presidency of the Republic regarding tariffs paid by state entity EP PetroEcuador to the Heavy Oil Pipeline (OCP) for transporting its crude.

The general legal secretary, Johana Pesántez, responded to Ortiz with two requests, the daily newspaper El Universo reported on 24 March 2021. The first regarded a special examination by the Comptroller’s Office, and the second a legality report for the Attorney General’s Office on the payment of the tariff to the OCP for the transportation of the oil by PetroEcuador.

Source: El Universo

Ecuador’s Moreno Sees Cabinet Shrinking

In recent weeks, the cabinet of Ecuador’s President Lenín Moreno’s has seen the resignation of secretaries and ministers who were responsible for determining the government’s stance along political, social, security, health and other spheres. The announcements comes two months before Moreno’s term ends, reported daily newspaper El Universo on 24 March 2021.

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By Piero Stewart and Aaron Simonsky. © Energy Analytics Institute (EAI). All Rights Reserved.