Ecuadorian President speaks out against tax havens

President Correa appeared before Ecuador's Constitutional Court to present his proposal to hold a referendum on whether candidates who have assets in tax havens should be barred from standing during the February 2017 elections. Correa arrived at the Court accompanied by representatives from social movements, and heavily criticized tax havens and their impact on the economy (Telégrafo). The President claimed that between 2014 and 2015 Ecuador lost US$379 million to tax havens, an amount equivalent to the investment required to rebuild the areas most affected by the April 2016 earthquake (Universo).