Ecuador: Correa details quake recovery funding

Rafael Correa (pictured) has announced new taxes to fund Ecuador's earthquake recovery.

Ecuadorean President Rafael Correa has praised the efforts of rescuers, health teams and security forces that have significantly helped the lives of the people affected by the April 9 7.8-magnitude earthquake.

TeleSUR English said that, speaking at a press conference from a provisional hospital set up in Bahia de Caraquez, one of the coastal areas affected by the earthquake, Correa explained new taxation measures to fund the post-quake recovery. The president said the solidarity effort will be progressive — the richest will be expected to contribute more than the poorest.

All the funds generated by these exceptional measures — up to an estimated US$1 billion — will be allocated to the reconstruction of the coast, he added, saying his government is working on a detailed reactivation plan.

The president also expressed his disappointment at some opposition sectors that criticised the tax measures: “We have to elevate the level of the debate here please, in such circumstances of national tragedy.”