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Economy & Business - November 2021

ECUADOR: Looking to flexibilise labour regulations

During the 2021 presidential election campaign, President Guillermo Lasso promised that his government would create 2m jobs over its four-year term. Over the past 15 years, Ecuador’s formal employment sector has struggled to expand even during periods of growth, and it has shrunk over the past seven years – a structural problem which the Lasso government and the country’s multilateral creditors attribute to its rigid labour market. The government’s prescription is a labour reform which would introduce greater flexibility into the market and is expected to be put to the national assembly later this year. It will face fierce opposition from a left-leaning congress and trade unions, both of which worry about a potential erosion of workers’ rights.

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