Facebook Twitter Google+ LinkedIn The fuel subsidy, a legacy of the military regime, has persisted despite significant shifts in economic and oil landscapes since the 1970s, proving a challenge for successive Presidents of the Republic. Introduced in Ecuador in 1974 under the military regime led by General Guillermo Rodríguez Lara, the controversial fuel subsidy coincided […]
Ecuador’s 50-Year Battle to Cut Fuel Subsidies
Published on June 10, 2024
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More from this issue
Prosecutor Leonardo Alarcón indicated that the involvement of the Vice President was determined based on the complainant’s version and telephone information. The Nene case, which is being investigated for alleged influence peddling in the Vice Presidency of the Republic and involves the son of Vice President Verónica Abad, has been transferred to the National Court […]
Ecuador’s Safest Regions Highlight 25 Murder-Free Cantons in 14 Years
What are the safest places in Ecuador? In 25 cantons across 11 provinces, there have been no violent deaths since at least 2010. The record of violent deaths in the cantons of Ecuador has been public since January 2010, with the latest update in April 2024. In those 14 years and four months, 33,832 murders […]
Noboa’s Plan to End Gasoline Subsidies Could Impact Over a Million Ecuadorian Vehicles
Nearly 1.1 million private cars use Extra and Ecopaís gasoline. Additionally, 814,976 motorcycles use gasoline. President Daniel Noboa is analyzing the elimination of the gasoline subsidy. The Government of Daniel Noboa is advancing the plan to eliminate subsidies for Extra and Ecopaís, which could yield an income of about $630 million a year. But how […] To view this article you must have an active subscription. Already a member? Sign in. Subscribe to weekly reports on Ecuador’s economics, politics, crime and more. Not sure you want to commit? Don’t worry, you can cancel anytime. For a limited time,subscribe now and get your first month for only $1. Regular subscriptions available at $4.99/month or $42/year. Subscribe now!
Politics in its worst form
Obviously, the biggest story in TCD this week is about the Nene case. The case is being transferred to the National Court because there is supposedly evidence that Vice President Abad was involved in the bribery scheme. Of course, this mean that the Correístas, who are now backing Abad, are going to claim that these […] To view this article you must have an active subscription. Already a member? Sign in. Subscribe to weekly reports on Ecuador’s economics, politics, crime and more. Not sure you want to commit? Don’t worry, you can cancel anytime. For a limited time,subscribe now and get your first month for only $1. Regular subscriptions available at $4.99/month or $42/year. Subscribe now!
Kia and Aymesa Announce $62 Million Investment to Assemble Five New Vehicle Models in Ecuador by 2026
Projection is to produce 22,000 vehicles and generate 750 jobs alongside greater production of auto parts: a sector facing upheaval after the panned departure of General Motors. The Ecuadorian automotive industry is undergoing significant changes with new investments and models slated for assembly by 2026. This development follows a meeting between directors of Kia Ecuador, […]
Assembly Controversy: Government Denounces ‘Anti-Noboa Majority,’ Assembly President Hits Back
The Vice Minister of Governance, Esteban Torres, asserted on June 5th that an “anti-Noboa” and “anti-government” majority has formed in the Assembly. On June 5th, the Government reacted to recent events in the National Assembly, including the call for President Daniel Noboa to delegate Vice President Verónica Abad to his office. In response, Vice Minister […] To view this article you must have an active subscription. Already a member? Sign in. Subscribe to weekly reports on Ecuador’s economics, politics, crime and more. Not sure you want to commit? Don’t worry, you can cancel anytime. For a limited time,subscribe now and get your first month for only $1. Regular subscriptions available at $4.99/month or $42/year. Subscribe now!
Verónica Abad on Potential Correa Pardon: “It’s About Justice, Not the Former President”
Vice President Verónica Abad has garnered unexpected support from the Correísta faction in the Assembly, positioning her as a potential replacement for President Daniel Noboa in the 2025 campaign. Hints of alignment between Vice President Verónica Abad and Correismo have surfaced in the National Assembly, with the Citizen Revolution (RC) bloc now backing Abad to […] To view this article you must have an active subscription. Already a member? Sign in. Subscribe to weekly reports on Ecuador’s economics, politics, crime and more. Not sure you want to commit? Don’t worry, you can cancel anytime. For a limited time,subscribe now and get your first month for only $1. Regular subscriptions available at $4.99/month or $42/year. Subscribe now!
Central Bank Says Subsidy Cuts Will Boost Inflation but Are Crucial for Ecuador’s Economy
The increase in VAT and the elimination of gasoline subsidies would raise annual inflation to 3.5% to 4% in 2024. The initial forecast was 2.1%. The manager of the Central Bank of Ecuador (BCE), Guillermo Avellán, announced that the first disbursement of the credit obtained with the International Monetary Fund (IMF) arrived in the State […] To view this article you must have an active subscription. Already a member? Sign in. Subscribe to weekly reports on Ecuador’s economics, politics, crime and more. Not sure you want to commit? Don’t worry, you can cancel anytime. For a limited time,subscribe now and get your first month for only $1. Regular subscriptions available at $4.99/month or $42/year. Subscribe now!
Minister Outlines Plan to Phase Out Inequitable Fuel Subsidies
In a recent interview, the Ecuadorian Minister of Energy indicated that propane gas and diesel fuel are not going to be touched and that currently, 70% of extra gasoline and Ecopaís subsidies are going to people who earn more than $900. The acting Minister of Energy, Roberto Luque, explained the reasons why the Government is […] To view this article you must have an active subscription. Already a member? Sign in. Subscribe to weekly reports on Ecuador’s economics, politics, crime and more. Not sure you want to commit? Don’t worry, you can cancel anytime. For a limited time,subscribe now and get your first month for only $1. Regular subscriptions available at $4.99/month or $42/year. Subscribe now!
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