This site uses cookies. By accepting cookies you can optimise your browsing experience. Read more.
02:15

Ecuador: President Moreno insists on ending fuel subsidies, says he won't negotiate 'with criminals'

Ecuador, Guayaquil
October 04, 2019 at 23:47 GMT +00:00 · Published

Ecuadorian President Lenin Moreno said that he would not reverse the series of economic adjustment measures, speaking during a press conference in Guayaquil on Friday. The measures, including the end of fuel subsidies, triggered a wave of protests in several cities leading to the declaration of the state of emergency.

Moreno assured that he was willing to hold a dialogue with the representatives of some sectors affected by the economic measures but not with "the criminals, with the dishonest."

The president of Ecuador added that the increase in fuel prices will not lead to an increase in prices in general. "Patriotic producers, including the owners of supermarkets and different chains, have stated that patriotically they will assume that expense," he said.

In agreement with the International Monetary Fund (IMF) to obtain millions in loans, the government of Ecuador introduced the series of economic adjustment measures including the elimination of fuel subsidies, which will increase gasoline prices by 25% to 75%, while diesel prices are expected to almost double. Public employees' salaries will also be reduced and taxes will be increased for some companies.

02:15
Pool for subscribers only
Restrictions

Mandatory credit: Secretaria de Comunicacion de la Presidencia de Ecuador

No Account? Sign up!
Description

Ecuadorian President Lenin Moreno said that he would not reverse the series of economic adjustment measures, speaking during a press conference in Guayaquil on Friday. The measures, including the end of fuel subsidies, triggered a wave of protests in several cities leading to the declaration of the state of emergency.

Moreno assured that he was willing to hold a dialogue with the representatives of some sectors affected by the economic measures but not with "the criminals, with the dishonest."

The president of Ecuador added that the increase in fuel prices will not lead to an increase in prices in general. "Patriotic producers, including the owners of supermarkets and different chains, have stated that patriotically they will assume that expense," he said.

In agreement with the International Monetary Fund (IMF) to obtain millions in loans, the government of Ecuador introduced the series of economic adjustment measures including the elimination of fuel subsidies, which will increase gasoline prices by 25% to 75%, while diesel prices are expected to almost double. Public employees' salaries will also be reduced and taxes will be increased for some companies.

Video Feed
Providing you with the best in breaking news, politics, science, sports, tech, viral and entertainment content
All latest videos
Syria: Qamishli residents celebrate Syrian army deployment
01:31
Syria: Qamishli residents celebrate Syrian army deployment
October 14 at 06:30 GMT +00:00
Japan: Nagano flooded as Chikuma River overflows after Typhoon Hagibis
02:41
Japan: Nagano flooded as Chikuma River overflows after Typhoon Hagibis
October 14 at 06:17 GMT +00:00
France: Turkish team prepare for France clash in Euro 2020 qualifier
01:16
France: Turkish team prepare for France clash in Euro 2020 qualifier
October 14 at 04:17 GMT +00:00
Japan: Drone footage captures flooded Nagano hit by deadly Typhoon Hagibis
01:59
Japan: Drone footage captures flooded Nagano hit by deadly Typhoon Hagibis
October 14 at 04:13 GMT +00:00
Haiti: Anti-government protests turn musical
01:42
Haiti: Anti-government protests turn musical
October 14 at 03:41 GMT +00:00
France: French squad gears up for Turkey clash in Euro 2020 qualifier
01:51
France: French squad gears up for Turkey clash in Euro 2020 qualifier
October 14 at 02:53 GMT +00:00
USA: Pro-Kurdish protesters demand an end to Turkish operation in Syria
02:32
USA: Pro-Kurdish protesters demand an end to Turkish operation in Syria
October 14 at 02:35 GMT +00:00
Ecuador: Anti-govt protests turn Quito streets into battlefield
02:59
Ecuador: Anti-govt protests turn Quito streets into battlefield
October 14 at 01:21 GMT +00:00
Brazil: Thousands demand freedom for jailed ex-president Lula
02:48
Brazil: Thousands demand freedom for jailed ex-president Lula
October 14 at 00:22 GMT +00:00
Serbia: At least 26 poisoned while counting Kosovan parliamentary election votes - reports
02:29
Serbia: At least 26 poisoned while counting Kosovan parliamentary election votes - reports
October 13 at 23:54 GMT +00:00
Tunisia: Kais Saied celebrates presidential win as exit polls point to his victory
02:42
Tunisia: Kais Saied celebrates presidential win as exit polls point to his victory
October 13 at 23:01 GMT +00:00
USA: Latin culture celebrated at New York's Hispanic Day Parade
01:20
USA: Latin culture celebrated at New York's Hispanic Day Parade
October 13 at 22:23 GMT +00:00
All latest videos