Name: The STRIKE is OVER - Cuenca Ecuador (October 14, 2019) | Videos | Gan Jing World
Uploaded: 2019-10-14T04:00:00.000Z
Duration: 5 min 38 s
Description: Last night, President Moreno and the leaders of the indigenous people met to discuss a way forward after nearly 2 weeks of intense protests throughout Ecuador a... | Videos | Gan Jing World

Amelia And JP

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Last night, President Moreno and the leaders of the indigenous people met to discuss a way forward after nearly 2 weeks of intense protests throughout Ecuador and especially in Quito, its capital city.

As a result of that meeting, Decree 883 has been repealed. That is the "executive order" issued by Moreno that ushered in a series of IMF-demanded austerity measures such as the removal of fuel subsidies. The austerity measures were a requirement in order to secure a $4.2 Billion loan from the IMF that was intended to stabilize Ecuador's economy. 

In addition to repealing Decree 883, they also agreed to form an inclusive committee that will work together to identify a path that will ensure the continued stability of Ecuador's economy while not causing unnecessary harm to Ecuador's most vulnerable people. 

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