QUITO, Ecuador (Reuters) -- Ecuador's President Rafael Correa declared a state of emergency Saturday after increased activity the day before at the giant Cotopaxi volcano, giving the government greater leeway to mobilize financial resources in the event of an eruption. Two minor explosions Friday at Cotopaxi, about 43.5 miles south of Quito, led to a precautionary evacuation of small towns in the center of the country.

"We declare a state of emergency due to the unusual activity of Mount Cotopaxi," Correa said during his weekly Saturday address. "God willing, everything will go well and the volcano will not erupt." The move allows the president to immediately mobilize security forces throughout the country and lets the government block publication of information related to Cotopaxi.

The state of emergency may not exceed 60 days.

Correa said that about 400 people have been voluntarily relocated to shelters after the explosions and expulsion of ash surprised nearby residents Friday.

The Environment Ministry closed the Cotopaxi National Park as a precaution. Cotopaxi is one of the world's highest active volcanoes and is popular with tourists. Its last eruption took place in 1940, according to the Smithsonian Institution's Global Volcanism Program.

(Reporting by Alexandra Valencia; Writing by Brian Ellsworth; Editing by Bernard Orr)