Ecuador Central Bank Head Quits After Admitting Fake Diploma

Ecuador central bank head Pedro Delgado, a cousin of President Rafael Correa, resigned yesterday after admitting he used a fake college degree to apply to business school more than two decades ago.

Delgado acknowledged the lie at a news conference yesterday, saying “I committed an extremely grave error 22 years ago, I made the wrong decision to achieve an academic objective and I made a mistake that today is costing me dearly.” Correa on his Twitter account last night said Delgado used the false degree in economics to apply to the Central American Institute of Business Administration, or INCAE, which has campuses in Nicaragua and Costa Rica.