Ecuadorian President Lenin Moreno on Tuesday announced steps to cushion the economic impact of the novel coronavirus (COVID-19) pandemic and subsequent lockdown, which has led to 12 billion U.S. dollars in losses and wiped out 150,000 jobs.
His government will significantly cut public spending and shorten the work day, said Moreno.
“The country has never faced such a grave situation,” Moreno said in a nationally broadcast address, adding the steps aim “to prevent the nation’s economy from collapsing.”
Ecuador reported 33,582 confirmed cases of infection and 2,799 deaths from the disease as of Monday, placing it among the hardest hit countries in Latin America, along with Brazil, Peru and Chile.
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