Berliner Boersenzeitung - Ecuador president faces ouster vote as fuel price protests enter 13th day

EUR -
AED 4.102105
AFN 75.943776
ALL 98.559302
AMD 432.564919
ANG 2.012493
AOA 1053.718626
ARS 1078.246379
AUD 1.615995
AWG 2.013058
AZN 1.903018
BAM 1.956263
BBD 2.254705
BDT 133.431563
BGN 1.95567
BHD 0.420474
BIF 3227.592984
BMD 1.116814
BND 1.432422
BOB 7.716309
BRL 6.068661
BSD 1.116649
BTN 93.443216
BWP 14.597564
BYN 3.654164
BYR 21889.557957
BZD 2.250874
CAD 1.510324
CDF 3199.673034
CHF 0.93949
CLF 0.036393
CLP 1004.183913
CNY 7.830771
CNH 7.796932
COP 4662.174305
CRC 579.581211
CUC 1.116814
CUP 29.595576
CVE 110.844247
CZK 25.143401
DJF 198.480656
DKK 7.45943
DOP 67.511856
DZD 147.632829
EGP 53.951777
ERN 16.752213
ETB 133.128577
FJD 2.438568
FKP 0.85052
GBP 0.835251
GEL 3.038171
GGP 0.85052
GHS 17.612595
GIP 0.85052
GMD 76.506072
GNF 9640.902719
GTQ 8.637546
GYD 233.589897
HKD 8.680271
HNL 27.775602
HRK 7.593232
HTG 147.162717
HUF 397.072547
IDR 16891.646973
ILS 4.130236
IMP 0.85052
INR 93.498064
IQD 1463.026578
IRR 47023.461504
ISK 150.960204
JEP 0.85052
JMD 175.431498
JOD 0.791491
JPY 158.761881
KES 144.069421
KGS 94.039997
KHR 4539.850039
KMF 493.213107
KPW 1005.13213
KRW 1463.356082
KWD 0.34064
KYD 0.930595
KZT 535.615475
LAK 24662.053383
LBP 100066.551049
LKR 333.41887
LRD 216.410712
LSL 19.192495
LTL 3.297662
LVL 0.67555
LYD 5.294124
MAD 10.82556
MDL 19.447167
MGA 5082.621727
MKD 61.575479
MMK 3627.368897
MNT 3794.934539
MOP 8.941976
MRU 44.354319
MUR 51.318034
MVR 17.154688
MWK 1938.789804
MXN 22.01096
MYR 4.606902
MZN 71.336549
NAD 19.192495
NGN 1863.393714
NIO 41.102919
NOK 11.731184
NPR 149.506067
NZD 1.761259
OMR 0.429471
PAB 1.116634
PEN 4.187052
PGK 4.437666
PHP 62.551688
PKR 310.143432
PLN 4.278011
PYG 8716.061777
QAR 4.066042
RON 4.979097
RSD 117.161668
RUB 105.231058
RWF 1487.59649
SAR 4.189354
SBD 9.261119
SCR 14.79953
SDG 671.767835
SEK 11.26907
SGD 1.429415
SHP 0.85052
SLE 25.516192
SLL 23419.029236
SOS 637.701275
SRD 34.286758
STD 23115.798718
SVC 9.770311
SYP 2806.029064
SZL 19.192494
THB 36.151687
TJS 11.881355
TMT 3.90885
TND 3.394561
TOP 2.615695
TRY 38.121675
TTD 7.585372
TWD 35.28057
TZS 3048.90309
UAH 45.967974
UGX 4125.289807
USD 1.116814
UYU 46.821075
UZS 14225.424679
VEF 4045718.043587
VES 41.120607
VND 27484.797006
VUV 132.590423
WST 3.124246
XAF 656.162155
XAG 0.035308
XAU 0.000421
XCD 3.018247
XDR 0.826043
XOF 657.249161
XPF 119.331742
YER 279.566552
ZAR 19.115571
ZMK 10052.671816
ZMW 29.530836
ZWL 359.613711
  • RBGPF

    64.7500

    64.75

    +100%

  • RELX

    -0.5300

    47.56

    -1.11%

  • AZN

    -0.5600

    77.62

    -0.72%

  • CMSC

    0.0300

    25.14

    +0.12%

  • GSK

    -0.1900

    40.71

    -0.47%

  • NGG

    -0.3300

    69.73

    -0.47%

  • RIO

    0.4800

    71.23

    +0.67%

  • RYCEF

    0.0100

    7.05

    +0.14%

  • BTI

    -0.2369

    36.84

    -0.64%

  • BP

    0.6300

    31.42

    +2.01%

  • SCS

    0.0400

    13.25

    +0.3%

  • VOD

    0.0500

    10.09

    +0.5%

  • BCE

    0.3600

    35.19

    +1.02%

  • BCC

    1.1800

    141.49

    +0.83%

  • CMSD

    -0.0300

    25.08

    -0.12%

  • JRI

    0.1200

    13.58

    +0.88%

Ecuador president faces ouster vote as fuel price protests enter 13th day
Ecuador president faces ouster vote as fuel price protests enter 13th day / Photo: MARTIN BERNETTI - AFP

Ecuador president faces ouster vote as fuel price protests enter 13th day

Ecuador's president faced a no-confidence hearing Saturday, nearly two weeks into sometimes violent countrywide protests led by Indigenous groups against rising fuel prices and living costs.

Text size:

Opposition lawmakers called the parliamentary session over what they say is President Guillermo Lasso's role in "the serious political crisis and internal commotion" that has left six civilians dead and dozens injured on both sides in 13 days of revolt.

An estimated 14,000 protesters are taking part in a nationwide show of discontent against rising hardship in an economy dealt a serious blow by the coronavirus pandemic.

Most of the ire is concentrated in the capital Quito, where some 10,000 people, most from other parts of the country, have gathered for daily protests, marching with sticks and makeshift shields, and chanting "Out Lasso, out!"

On Friday, Lasso accused demonstrators of attempting "a coup" after two straight days of violent clashes with police and soldiers.

Protesters in Quito threw rocks and Molotov cocktails and shot off fireworks near the congress building. The security forces repelled them with tear gas.

- 'Until we have results' -

The protests were called by the powerful Confederation of Indigenous Nationalities of Ecuador (Conaie), credited with bringing down three presidents between 1997 and 2005.

Conaie leader Leonidas Iza told AFP this week demonstrations would continue "until we have results. We can no longer hold back the anger of the people."

The action has been costly, with losses of some $50 million per day to the economy as protesters have blocked key roads with burning tires and tree branches.

Production of fuel -- Ecuador's biggest export -- has been halved, according to the energy ministry.

"Basic necessities are very expensive and our products from the field... are worth nothing," potato farmer Miguel Taday, 39, told AFP of his reason for joining the demonstrations.

Six of the country's 24 provinces are under a state of emergency and a night-time curfew is in place in Quito, where many business owners and workers in the capital are fed up with the disruption to their lives and livelihoods.

Protesters are demanding a cut in already subsidized fuel prices, which have risen sharply in recent months, as well as jobs, food price controls, and more public spending on healthcare and education.

Ecuador's National Assembly will meet from 6:00 pm (2300 GMT) on Saturday to vote on whether or not to oust Lasso, a conservative ex-banker who took power a year ago and who is self-isolating after a Covid-19 diagnosis.

The debate, during which Lasso will be given a chance to state his case, takes place at the request of the 47 lawmakers of the leftist opposition Union for Hope coalition.

Lasso's dismissal would require 92 votes out of 137 in the assembly, in which opposition parties are in the majority.

Once the debate is concluded, lawmakers will have 72 hours to decide on a course of action.

If they vote to unseat Lasso, Vice President Alfredo Borrero will assume interim power and call new presidential and legislative elections.

The government has rejected the protesters' demand for a fuel price cut, saying it would cost an unaffordable $1 billion per year.

The International Monetary Fund on Friday approved the release of $1 billion in funding for Ecuador following two reviews of a $6.5 billion loan deal, of which $4.8 has been disbursed so far.

The payment is meant to bolster Ecuador's economic recovery from the Covid-19 pandemic, restore fiscal sustainability and reduce public debt.

Austerity measures adopted by then-president Lenin Moreno led to a wave of demonstrations in 2019 that left 11 dead and thousands injured, but compelled the government to cancel plans to cut fuel price subsidies.

No negotiations have been programmed to try and bring an end to the latest standoff, in which both sides accuse each other of intransigence.

"We will continue to fight... The rank and file have said that we will not return without results," said Wilmer Umajinga, 35, protesting in Quito since Monday.

(S.G.Stein--BBZ)