During his time as president, he actively pursued structural reform to modernize the Ecuadorian state and cut down wasteful bureaucratic spending. During his presidency, Ballén lowered the Ecuadorian inflation from 67% to 24%. The result was a significant reduction of government deficits and a thriving private sector. Durán-Ballén also led Ecuador into membership in the WTO, with negotiations being led by his subsecretary of Foreign Affairs, Patricio Izurieta Mora-Bowen. The admission to the WTO had a significant impact on the nation's political institutions and export competitiveness.