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LatinNews Daily - 03 March 2021

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In brief: Sharp rise in poverty in Ecuador

*Ecuador’s national statistics institute (Inec) has reported that the national poverty rate increased from 25% in 2019 to 32.4% last year. The Inec says that while the poverty rate has been rising since 2018, when the country fell into an economic slowdown, the sharp rise registered last year was mainly driven by the socioeconomic impact of the coronavirus (Covid-19) pandemic. The Inec notes that the fall in household incomes since the onset of the country’s economic crisis in 2018, has resulted in rising inequality with the country’s Gini coefficient, a measure of inequality in which 0 represents perfect equality and 100 represents perfect inequality, increasing from 47.3 in 2019 to 50 in 2020.