Special Report: Global Financial Crisis

QUITO, March 9 (Xinhua) -- President Rafael Correa affirmed that the global economic recession has barely affected Ecuador, thanks to good management of the economy, local press reported on Monday.

In a statement published on Monday by local press, Correa said that Ecuador has not felt the crisis despite a drop in foreign currency incomes due to the drop in oil prices and the reduction of foreign remittances.

Correa said that despite the world financial crisis, the country has sustained its economic vitality thanks to public investment and the attention to the strategic sectors.

Correa said that the restrictions on imports and the boost of exports were right decisions.

Correa warned that to continue using the U.S. dollar as the Ecuadorian currency could be dangerous because the bases of the currency have been weakened, with the drop of oil prices and the remittance collapse.

Correa said that Ecuador is attaching more importance to the strategic sectors, affirming the cooperation with China, Iran and Venezuela to build hydroelectric plants and a refinery.

Correa added that his government also seeks strategic cooperation with other countries to exploit the mining sector in Ecuador.

"There is a lot of interest, we have had meetings with Canadian businessmen and we hope that they would make big investments (on mining) in the coming months," Correa told TV channel Canal Uno on Sunday.