Monday, October 14, 2019

Ecuador's Government Gives In To Protesters On Oil Subsidies After 2 Weeks Of Protests



Daily Mail: Ecuador's government gives in to protesters and agrees to reinstate fuel subsidies following two weeks of violent clashes that claimed seven lives

* President Lenin Moreno scrapped fuel subsidies to get $4.2 billion loan from the International Monetary Fund
* Fuel prices doubled and demonstrators took to the streets in their thousands to protest against the austerity
* Violence left seven dead but clashes were stopped when a deal was reached with the indigenous leaders
* Moreno met with Jaime Vargas for four hours of talks in the capital Quito broadcast live on state television

Ecuador's president and indigenous leaders reached an agreement yesterday to end nearly two weeks of violent protests against austerity measures adopted to obtain a multi-billion-dollar loan from the IMF.

The demonstrations have left seven people dead and were sparked when President Lenin Moreno scrapped fuel subsidies to obtain a $4.2 billion loan from the International Monetary Fund, causing prices to double.

Moreno met with Jaime Vargas, the head of the indigenous umbrella grouping CONAIE, for four hours of talks in the capital Quito which were broadcast live on state television.

Read more ....

More News On The Unrest In Ecuador

The Latest: Ecuador president, indigenous leaders set truce -- AP
Ecuador president, indigenous leaders agree to a truce -- France 24
Ecuador indigenous, president strike deal to end protests -- AP
Ecuador repeals law ending fuel subsidies in deal to stop protests -- BBC
Ecuador deal cancels austerity plan, ends indigenous protest -- AP
Ecuador government agrees to return fuel subsidies -- Al Jazeera

2 comments:

Roger Smith said...


They got their cheap fuel back. Now to pay for it.
This situation reminds me of watching ameboas in high school; push here they bulge somewhere else. Overspend here, cut back somewhere else.

CityAirNews said...

Very great post with excellent and insightful information. Thanks for sharing.

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