Ecuadorians Celebrate Decision To Revise Decree On Canceling Oil Subsidies - Reports
Faizan Hashmi Published October 14, 2019 | 12:40 PM
BUENOS AIRES (UrduPoint News / Sputnik - 14th October, 2019) Ecuadorian nationals have met with dancing and songs the decision of the country's authorities and the opposition to revise the controversial decree on canceling oil subsidies that sparked mass protests across the country, media reported.
On Sunday, Ecuadorian President Lenin Moreno held talks with the Confederation of Indigenous Nationalities of Ecuador and the opposition. Both the confederation and the opposition wanted the president to annul the controversial decree. Moreno, on his part, pointed out the need to revise the decree. UN representative in Ecuador Arnaud Peral, who mediated the talks, said that the parties had agreed to stop mass protests in the country.
After the talks, El Comercio released footage showing indigenous people dancing, singing and waving flags. A crowd of celebrating people blocked one of the streets in the capital of Quito.
Mass protests erupted in Ecuador in early October as thousands rallied across the country against the government's economic reforms, particularly, the decision to end decades-long fuel subsidies for people. According to Moreno, Ecuador could no longer afford them and the cuts could help the country save some $2.27 billion a year. Additionally, the abolition of fuel subsidies was part of the Ecuadorian government's deal with the International Monetary Fund to be eligible for a $4.2 billion loan.
Related Topics
Recent Stories
Rock-solid Ruud racks up season-leading win in Barcelona
At UN, Iran says it will make Israel 'regret' reprisals
G7 hears calls for 'critical' Ukraine aid
EU seeks to leverage might to confront China, US challenge
5 Customs officials martyred as their vehicle ambushed by terrorists in D I Khan
Pak-New Zealand match called off due to rain
NHA restores traffic on roads affected by recent rains in Balochistan
China to fully support Pakistan's efforts against terrorism: Ambassador Jiang
U.S. envoy calls on Foreign Minister Ishaq Dar
Poland arrests man over suspected plan to kill Zelensky
EU wants to ease youth movement to and from UK
Police foils attempt of supply mainpuri raw material
More Stories From Business
-
Pakistan's total liquid foreign reserves reach $ 13.37 billion
10 hours ago -
Stock markets rise as traders consider US rate outlook
11 hours ago -
Business community alarmed by alleged Cigarette tax violations
11 hours ago -
High FED on cigarettes demonstrates positive impact
11 hours ago -
PTCL posts 14 % revenue growth
11 hours ago -
Prudent policies, reforms poised to result in sustainable economic growth: Governor State Bank of Pa ..
12 hours ago
-
ICCI resolute to turn Islamabad an ecofriendly city: Khalid Malik
11 hours ago -
Beijing's GDP up 6 pct in Q1
13 hours ago -
China's Q1 goods, services trade surplus exceeds 60 bln USD
13 hours ago -
Pakistan Stock Exchange (PSX) loses 43 points
14 hours ago -
KP Govt decides to establish Gem Processing & Export Centre
14 hours ago -
Rupee sheds 04 paisa against dollar
14 hours ago