Ecuador’s Moreno scraps fuel subsidy cuts in big win for indigenous groups- Reuters
Then, later on Monday, he signed the decree officially reverting his previous measure. Moreno, who took office in 2017 after campaigning as the leftist successor to former President Rafael Correa, said fuel prices would revert to their earlier levels at midnight.
He added that the government would seek to define a new plan to tackle the fuel subsidies that does not benefit the wealthy or smugglers, with prices remaining at prior levels until the new legislation is ready.
“While Moreno has survived for now, he is not yet out of the woods. Once again, Ecuador’s indigenous sector has proven its strength and now will be emboldened to look for concessions from the government in other areas,” said Eileen Gavin, senior Latin America analyst at Verisk Maplecroft.
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