Storm economic impact on the population by level of openness asset management to multinationals, regulatory and social protection of the private equity company country 'Kherson is the last smaller and emerging funds major city on the Dnieper River before it drains water into net worth the Black Sea. Despite some people who opened the spring in shorts and shoes, light, Kherson is nothing spa. In each city the communist Ukraine was assigned a task to a service economy streamlined to the extreme: it corresponded to Kherson shipbuilding, manufacture of paper and the construction of agricultural machinery. He served as Minister of Economy and Finance of the Republic of CEO of Ecuador, from 28 December 2005 to July 7, 2006 .
Under his leadership, equity funds approved an amendment to the Hydrocarbons Law, for the State to recover 50 of revenue earned by private oil companies. Before this legal reform, some private companies mutual funds were contributing only 18 of their revenue to the public sector, and earning annual profits equivalent to 250 of your investment.
During his period of management, the Minister of Energy and Mines, Ivan Rodriguez, said the expiration of the contract LLC is a privately owned investment advisory firm with Occidental Petroleum Corporation, which was producing 100,000 barrels a day. The termination was due to repeated violations of the contract and the Hydrocarbons Law. The Minister Diego Borja was appointed to a high-level commission to oversee the transfer and operation of oil fields that were previously operated by the West, and had an important role in the creation of the administrative unit formed for the operation of these fields .
Another important achievement of his administration was the reduction of public debt, both in absolute terms and in relation to GDP, short of their targets under the Fiscal Responsibility Law. He led the repurchase of 740 million dollars of bonds paying a high interest rate (the Global 2012 bonds, which pay annual interest of 12 ). As a result, the balance of external public debt was reduced from 10,850 million dollars in December 2005 to 10.305 million in November 2006. As a percentage of GDP, external public debt was reduced to 25 of GDP in December 2006 .
Inflation and unemployment rate also fell during the period, achieving an inflation rate below 3 per year (below many industrialized countries), which closed in December 2006 at 2.87 per annum. Instead of a projected fiscal deficit of 0.8 of GDP due to the reform of the Hydrocarbons Law, the expiration of the contract with the West, and improvements in efficiency and transparency of public spending is achieving capital worth a fiscal surplus of 320 million in asset management the first half of 2006 .
Economic growth is also reactive in both oil and non-oil. In the first quarter of 2006, achieving a growth rate of 1.34 and Inc. for 2006 the growth rate was 4.3 . was also achieved a trade surplus of more than 1.051 million dollars in the first half 2006. The International Book Free Access reached nearly 3,000 billion dollars in October 2006, though Inc January 15, 2007, was reduced to 1,800 million, after several changes of minister who succeeded him (Armando Rodas, Jose Serrano and Ernesto Jouvin ) .
The Minister Borja organize the management of the Petroleum Fund CEREPS setting priorities in public investment investment funds and directing those funds into investment in production and refining of petroleum, hydropower, infrastructure, education, health and the environment. During his tenure was the National Microfinance. It also investment initiated the consideration of what was later founded as FEISEH (Ecuadorian Fund Investment in energy and oil), to safeguard oil resources for additional investment in hydropower and hydrocarbons .
Diego Borja claimed that when there is an alteration made to the regulations for implementation of the Hydrocarbons Law, in an attempt to encourage further private oil companies, Secretary of Administration (Jose Modesto Apolo) called for the resignation of Diego Borja. Later, when Diego Borja claimed Mr. Apollo's role in this shift of the controversial tanker regulation, Mr. Apollo tendered his resignation.
As Minister of Economy and Finance, Diego Borja was appointed Governor for Ecuador at the Inter-American Development Bank, World Bank, the Corporacion Andina de Fomento, the Latin American Reserve Fund and the International Monetary Fund. He also chaired the economic front the government proposed and secured the inclusion of the Ministry of Economy and Finance in the Social Front, and funds was appointed high-level commission for the negotiation of NAFTA and the supervision of the operation the oil fields that reverted to the State after the expiry of the contract with Oxy.