Update to: SRI will apply new control for Income Tax Published: Volume 7, Issue 10 With the tax reform that the Executive submitted to the Assembly, the State's income from Income Tax would be reduced by somewhere between $50-$200 million. The director of the Internal...
The political situation in Ecuador has come to a head with the debate over the potential impeachment of President Guillermo Lasso. And it’s something every ex-pat should be worried about. On Saturday, after a month of back-and-forth petty arguments during the entire impeachment process, the Oversight Commission, which is tasked with deciding whether Lasso should […]
Update to: Minister of Finance talks bonds for the Galapagos, tax reductions and the IMF and Petroecuador Published: Volume 7, Issue 15 The IDB is offering a multi-million-dollar guarantee to Ecuador to facilitate the debt swap process for the conservation of the Galapagos reserve. On May 3, 2023, the Inter-American Development Bank (IDB) extended an […]
Cuenca's tram system has been grappling with reducing operating losses since its debut on September 22, 2019. In 2022, Cuenca’s tram collected $2.7 million in fares, covering less than half of the annual operating cost of $5.5 million. The Municipality of Cuenca...
What was once a search-and rescue operation is now focused on finding the bodies of those who lost their lives on March 27, 2023.
During the last week of April, the winter in Cuenca has become more severe, resulting in prolonged and heavy rainfall that has led to flooding and other emergencies. It’s expected to continue thru May, albeit with reduced intensity.
As I was looking at the proofs of the stories that would be in this edition of the Cuenca Dispatch, I came across the article about the Alausí landslide. I thought I had seen enough photos of it to understand what happened. But my curiosity was piqued, so I decided to click on the video […]
The election of Conaie’s candidate for the role of national coordinator of Pachakutik may be a bellwether for Ecuador’s political future.
Credit Suisse has made an offer to purchase a portion of Ecuador’s external debt bonds through a reverse auction. The offer is for $800 million, which is equivalent to almost 2.8% of GDP. The Finance Ministry has stated that it is not involved in the offer.
Ecuador is the first Andean country where Google Wallet, an application for storing and using cards, has been launched. Additionally, the mobile payment service created by Apple will soon be available.
PSC, PK, and ID, and the opposition majority in the National Assembly, say President Guillermo has no grounds to invoke Cros Death, regardless of what he thinks.
The Plenary of the National Assembly unanimously approved the inspection and monitoring report on illegal mining in the Yutzupino sector in the province of Napo, after the activity got out of control at the end of 2021. The legislature demanded that President Guillermo Lasso reform Executive Decree 754, which created the Commission for the Control […]
The government aims to expand its record of successful trade agreements by including three new countries on its list, which already features China, Costa Rica, and South Korea.
Update to: Quito Metro’s Commercial Operations to Start in Q4 2023 Published: Volume 7, Issue 28 Effective May 2nd, citizens will no longer be able to enjoy free rides on the Quito Metro, as the company that manages the transportation system has announced that payment will now be required. For the general public, the rate […]
Update to: Unemployment falls and informality increases in January 2023 Published: volume 7, Issue 21 According to the INEC, Ecuador’s first quarter of 2023 saw an increase in suitable employment to 34.9%, which is a two-percentage point rise compared to the same period in 2022. However, the informal sector also experienced growth, with 53.5% of […]
The Public and State Security Council (Cosepe) recommended that President Lasso issue a decree to define actions to confront terrorism, including the use of lethal weapons. Following Cosepe’s decision to declare terrorism a threat to the State, Defense Minister Luis Lara spoke about the new role that the Armed Forces will have.
Diana Salazar, the State Attorney General, has asked the National Court of Justice to schedule a time and date for the formulation hearing of a provincial judge and two associates.
The National Police seeks that justice authorizes it to use confiscated weapons and ammunition, through the application of an article of the Comprehensive Organic Criminal Code (COIP). Illegal weapons are a major issue in Ecuador, with an average of 29 being seized every day, according to recent reports from the Ministry of the Interior. This […]
Dora Ordóñez, a former candidate for the Azuay Prefecture, recently assumed the role of Undersecretary of Transport and Public Works in the Austro region. Azuay is facing some serious road problems, which have been affecting the economic sectors of tourism and...
The impeachment trial of Ecuadorian President Guillermo Lasso has been nothing short of a farce. The proceedings have devolved into a political circus, with the Correístas (supporters of the former President Rafael Correa) dominating the process and using it to advance their own agenda. The trial has been a prime example of how politics in […]
The rainy season in Ecuador has caused several phenomena, including river overflows, flooding, landslides, and damage to crops and homes. By the end of March 2023, the Risk Secretariat had dealt with over two thousand dangerous events due to the current rainy season, affecting almost 60,000 people, leaving 742 homeless, and damaging over 12,000 homes. […]
Previous complaints by migrants have illustrated the danger posed by the stations of the National Institute of Migration (INM) of Mexico. One of the documented cases is from an Ecuadorian. A recent report from the Border Network for Human Rights (BNHR) has revealed...
On April 14, 2023, the Ecuadorian Ministry of Defense issued a Ministerial Agreement that implements the changes to Executive Decree No. 707, which allows for the carrying of weapons for civilians and their use in self-defense. Last Friday, the Minister of Defense, Luis Lara, announced that the Ministry had issued a Ministerial Agreement defining how […]
On Wednesday Guillermo Lasso’s defense will present its exculpatory evidence. Then, the Oversight Commission will have ten days to prepare the report. The political prosecution against Ecuadorian President Guillermo Lasso for alleged embezzlement promoted by four opposition assembly members, Viviana Veloz, Mireya Pazmiño, Pedro Zapata, and Rodrigo Fajardo, is reaching its final stages. The applicants for […]
Update to: The commercial operation of the Quito Metro will begin in March 2023 Published: Volume 7, Issue 10 The Quito Metro has announced that its commercial operations will begin in the last quarter of 2023. While the operator, a consortium formed by Colombian Metro Medellín and French Transdev, claims that the Municipality owes them […]
On average, customers who choose to deposit their money for a term of one year or more in April 2023 will be entitled to an interest rate of 8.74% per annum. The interest rates offered by banks and cooperatives in Ecuador to those who deposit their money in fixed-term...
The Ecuadorian Oil Fleet, known as Flopec, is at the center of a political storm in Ecuador, as President Guillermo Lasso faces calls for impeachment in relation to the company. Lasso has said that Flopec “does not have ships,” but this statement is not entirely accurate. Flopec does have ships, but it also creates strategic […]
The system will detect and prevent the entry of criminals into the province by comparing the faces and vehicles captured to a database of missing persons, wanted criminals, and stolen vehicles. The newly elected Prefect of Azuay, Juan Cristóbal Lloret, who is set to take office on May 16, 2023, has already formed a partnership […]
Real estate demand in Ecuador may decrease in 2023 due to several factors, including political uncertainty and insecurity. According to MarketWatch, a market consultancy firm, only 30% of real estate buyers in Ecuador purchase properties as an investment, which Gonzalo Rueda, the firm’s manager, says is a small percentage. The remaining 70% buy property to […]
Movil Technology Ecuador is adamant about keeping its radar contract in Cuenca, even though the incoming mayor, Cristian Zamora, has indicated his intention to terminate it. The conflict between the Municipality of Cuenca and the Movil Technology consortium over the contract to install radars in the city has been escalating, with no clear resolution in […]