Govt. creates intranet to track debts

Ecuador's government has created a centralized database to keep track of debts owed to state-owned financial institutions, local daily Expreso reported. The database will track the total value of loans issued and interest paid, as well as listing the guarantees attached to each loan, efforts taken to recover debts and the legal status of each case. The government's fixed line operator Pacifictel is providing connectivity between the central bank, the development bank and housing bank, as well as the national finance corporation (CFN) and the educational loans institute, which submit their data through a web-based platform.