Ecuador Central Bank President Resigns After Admitting Fake Degree

By Ana Paulina Escobar

blogs.wsj

The president of Ecuador’s central bank, Pedro Delgado, resigned late Wednesday after admitting he faked having a university degree.

Mr. Delgado, a cousin of President Rafael Correa, also resigned from his administrative posts with other state agencies. “I committed an error, a serious error 22 years ago. I made a mistaken decision in order to reach an academic goal. I made mistake and I am paying the price now,” he said.

diploma fraud

Mr. Delgado said that he had falsely claimed to have a degree as an economist in order to study for a master’s degree, calling it “an act of immaturity.”

Ecuador’s central bank lacks control over monetary policy as the Andean nation uses the U.S. dollar as legal tender.

Mr. Delgado “did serious harm to the revolution,” Mr. Correa said in a twitter message, saying his political opponents were trying to damage his image. Mr. Correa is running again for another term as president in next February’s elections.

This article was written by Ana Paulina Escobar   and originally published on  blogs.wsj

The president of Ecuador’s central bank, Pedro Delgado, resigned late Wednesday after admitting he faked having a university degree.

Mr. Delgado, a cousin of President Rafael Correa, also resigned from his administrative posts with other state agencies. “I committed an error, a serious error 22 years ago. I made a mistaken decision in order to reach an academic goal. I made mistake and I am paying the price now,” he said.