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U.S. Department of State Office of the Spokesman Press Statement

Press Statement by James P. Rubin, Spokesman
March 16, 1999

Economic Crisis in Ecuador

Following President Mahuad’s decree last week of a package of urgent measures to deal with a financial and fiscal crisis, Ecuador has been the scene of protests, demonstrations, and recrimination among the various political groupings. Some in Ecuador even doubt whether there is any way to resolve the current political and economic crisis within the framework of Ecuador’s constitutional democratic system.

The United States calls on the leaders of Ecuador’s various political parties and factions to work together to meet the challenge of solving their nation’s economic crisis, within the framework of Ecuador’s democratic constitution. This is a time to address the national interest and to establish a firm basis for economic, political and financial security.

Constitutional procedure and the rule of law are fundamental to any democracy. The United States will be watching closely to ensure that all participants in the process adhere to this principle and realize that any refusal to act responsibly would put the nature of the political system at risk, with national and international consequences.

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