Protests, Curfew in Ecuador: Miami Herald

Massive protests over rising prices and an end to fuel subsidies are roiling Ecuador’s capital. President Lenin Moreno has left the capital, transferred the government from Quito to Guayaquil, and declared a state of emergency, reports Jim Wyss for the Miami Herald. The president blames neighboring Venezuela and political opposition, and some US officials agree with that assessment despite minimal evidence so far. Moreno’s opponents suggest government austerity measures motivated protesters. “Protests began gathering steam last week when Moreno announced that he was eliminating a four-decade old fuel subsidy that he said was costing the nation $1.4 billion a year,” he writes. “Protesters have also tried to seize power plants, congress, and other government offices.” The country wrestles with debt, and Moreno seeks a loan agreement from the International Monetary Fund. Wyss concludes that the country has a history of instability just before and after the year 2000. – YaleGlobal

Protests, Curfew in Ecuador: Miami Herald

Ecuador’s president ends fuel subsidies as part of reforms and austerity measures; blames Venezuela and political rivals for chaos, growing protests
Jim Wyss
Wednesday, October 9, 2019

Read the article from the Miami Herald about unrest in Ecuador.

 Ecuador $0.49/liter; world avg $1.10/liter

(Source: IMF, CIA World Factbook and GlobalPetrolPrices.com

(Source: Observatory of Economic Complexity, MIT)

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