LatinNews Regional Monitor: Andean Group - 15 May 2020

* Ecuador’s President Lenín Moreno has asked the country’s congress to remove provisions regarding increased tax contributions from individuals and companies from his government’s ‘humanitarian support law’ bill. Tabled on 10 April as part of the government’s efforts to tackle the coronavirus (Covid-19) pandemic, the bill has been bogged down in congress for over a month, with objections centred on the proposal to fund emergency spending primarily through increased tax contributions. The government’s threats to dissolve congress if it failed to approve the bill were ignored; Moreno therefore offered this substantial concession in the hope that the amended bill can be approved on 16 May, claiming to “have listened to political and social leaders, entrepreneurs and employees”. It is not yet clear how the spending commitments entailed will be financed instead – the government has so far strongly resisted calls from congress and civil society for a moratorium on external debt repayments during the pandemic.

End of preview - This article contains approximately 153 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial