News Alerts

22 Aug 2018 | 04:00 PM UTC

Ecuador: Protests possible due to new austerity measures

Ecuador News Alert

Government announces austerity measures including fuel price increases August 21; associated protests possible

TIMEFRAME expected from 8/22/2018, 12:00 AM until 8/30/2018, 11:59 PM (America/Guayaquil). COUNTRY/REGION Ecuador

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Event

President Lenín Moreno announced a series of austerity measures on Tuesday, August 21, intended to rectify the government's fiscal deficit. One of the announced measures is a reduction in fuel subsidies, which will raise the price of gasoline from approximately USD 2.20 per gallon to USD 2.98. Other measures include the elimination of seven ministries and the consolidation of several other governmental institutions. Additionally, the government will seek to shrink public corporations in the postal, telecommunications, and air industries. The austerity measures may cause protests throughout Ecuador, notably in the cities of Quito and Guayaquil. The possibility of violence between protesters and security forces at all potential protests cannot be ruled out.

Context

The Ecuadorean government is implementing the measures in an effort to lower the fiscal deficit from 7.3 percent of the GDP to 4.3 percent by the end of 2018.

Advice

Individuals in Ecuador are advised to monitor developments to the situation, avoid all demonstrations as a precaution, and adhere to all instructions issued by the local authorities.

 

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