LatinNews Regional Monitor: Andean Group - 21 November 2019

* Ecuador’s economy & finance minister, Richard Martínez, has announced that he has presented a new tax reform proposal to President Lenín Moreno prior to sending it to the national assembly for consideration. Martínez’s announcement follows the rejection by the assembly of the previous tax reform proposal sent down by the government earlier this week. According to Martínez, this new tax reform project will improve “the lives of thousands of Ecuadoreans with the support of the people who have more income, and, at the same time, generate a better scenario for entrepreneurship and production”. As a part of a credit agreement with the International Monetary Fund (IMF) to shore up Ecuador's public finances, the Moreno government has been trying to pass labour and tax reform proposals aimed at reducing its chronic fiscal deficit. But the proposals have been met with public protests and continue to be resisted by legislators.

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