Ecuador’s President Guillermo Lasso plans to issue at least six new legislative decrees and seek sweeping changes to the country’s capital markets before he leaves office in early December, he said Thursday in an interview with Bloomberg TV’s Shery Ahn in New York.

Capital market reform is “a great project we are working on,” Laso said, adding that the goal is to modernize the system and make it more attractive to foreign investors. In addition, he announced that he plans to issue a decree authorizing the government to sell land to shrimp farms in order to earn the state coffers.

Lasso is in New York to discuss duty-free access for Ecuadorian exports and seek emergency funding to deal with the coming El Niño weather event.

Since declaring the death cross, President Guillermo Lasso has sent four emergency economic bills to the Constitutional Court. And that’s because according to the Constitution – after the Assembly is dissolved by the posthumous cross and early elections of the president and representatives are called – the Court must check the constitutionality of the adopted laws.

Sent so far:

But even these days, the director of the Tax Administration (SRI) Francisco Briones said that the law to prevent tax evasion is practically ready.

Meanwhile, with the arrival of El Niño, President Lasso said Ecuador is better prepared than in past decades to face the problem and will not seek loans from the bond market or China for emergency funds, relying instead on lenders such as the World Bank.

During the interview, the topic of the next election, which will be held on August 20, was raised, and in which, according to Bloomberg, Correísmo will not be enough to reach the first round. On this topic, Lasso said that: “Ecuador’s stability is at stake in these upcoming elections” and that he hopes that reform processes can continue to strengthen the economy and “above all, drive away the spirit default It hurts the country a lot.”

In May, Ecuador completed a debt transaction led by Credit Suisse Group AG in which it issued “blue bonds” to protect the Galapagos Islands and surrounding areas. Thus, Ecuador exchanged 1.6 billion dollars of nominal value of denominated bonds for a new loan of 656 million dollars. As a result, the country reduced more than $1.13 billion in its total debt.

According to Bloomberg, Lasso’s administration is by nature running on more debt, but it has little. In that regard, the government does not expect to issue new agreements before Lasso leaves office, but is working on a manual to shorten the time frame from the two years needed for the Galapagos to six months, Lasso said.