New Ecuador president Noboa pledges reforms to reduce violence, create jobs

investing.com:

By Alexandra Valencia

QUITO (Reuters) -Business heir and former legislator Daniel Noboa was sworn in as Ecuador's new president on Thursday, pledging to reduce violence and create jobs via urgent legislative reforms.

Noboa, 35, won an October run-off in the South American country, which is facing deep economic challenges that have pushed thousands to migrate and spiking violence that reached an unprecedented crescendo with the murder of presidential candidate Fernando Villavicencio.

«To fight violence we must fight unemployment, the country needs jobs and to create them I will send urgent reforms to the assembly, which should be treated responsibility and by putting the country first,» Noboa said during his maiden speech in front of National Assembly lawmakers in Quito.

Noboa will serve as president for just 17 months, finishing predecessor Guillermo Lasso's term after the latter brought forward elections to avoid likely impeachment.

It will be hard for Noboa to effectively tackle Ecuador's significant challenges during his truncated term, analysts have said, though he can run for re-election in 2025.

«We cannot keep repeating the same policies of the past expecting to have a different result,» Noboa said.

«I invite everyone to work together against the common enemies of violence and misery» he added. «The job is hard and difficult and the days are few.»

Noboa is expected to declare a state of emergency which will allow him to propose laws to the assembly with 30-day approval timelines.

States of emergency were frequently used by Lasso to try and tackle violence, to little effect.

Besides the job creation reform, which could include provisions to incentivize hiring, especially of young people, and lower value added tax