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Conservative businessman Guillermo Lasso was sworn in as the new president of Ecuador. He gave a severe speech in Congress on the huge economic and social challenges facing Congress.
The 65-year-old surprised everyone Won last month’s election“The former leader of Ecuador defeated the country by succumbing to authoritarianism and “obscene cults.” leadership“-A strong man who often dominates Latin American politics.
He told the visiting guests, including Brazilian President Jal Bolsonaro and Spanish King Felipe: “Today, we have received a country with an unemployment rate that has reached the highest level in history. The country is unable to cope with a cruel epidemic. Stand out because of illness.” “Other countries/regions in similar situations have solved this problem in a more orderly and effective way, and the most important thing is that there is no corruption.”
Faced with a pedestrian accident in 2013, Lasso looked weak and walked on crutches due to poor operation. huge challenge As the leader of Ecuador.
lassoEcuador made a fortune in the banking industry before entering politics and trying to win the presidency for the third time. He described Ecuador as “a country full of guilt, and even the most innocent Ecuadorians can’t stand it” and “a country that has failed young people in terms of education and creating opportunities.”
Even before the coronavirus pandemic, the country’s economy was in trouble. Last year, China contracted by nearly 8%, and the central bank expects to recover only 3.1% this year.
The debt has jumped to about 65% of GDP, and the fiscal deficit has widened. As the only country in South America that is officially dollarized, Ecuador has limited what it can do to stabilize its finances.
Last year it agreed $6.5 billion loan program Cooperated with the International Monetary Fund (IMF), but was hit by the pandemic and found that it could not meet the requirements. Lasso refused to consider some of the tax increases the fund requested.
He appointed Simón Cueva, a 53-year-old economist, as Minister of Finance.
“This is a good date,” said Sebastián Hurtado, the head of Prófitas, a local political risk consulting firm. “Except for a brief experience at the central bank, Cueva spends most of his time in the private sector and academic research. He is not as neoliberal as some other economists near Lasso, and we may see the right The importance of social policy has exceeded people’s expectations.”
Cueva said that Ecuador will start negotiations with the International Monetary Fund to adjust the current plan in the next few months.
Hertado said: “I hope the government of Lasso will establish a healthy relationship with the fund.” “The problem will not reach an agreement. It will achieve it.”
Another urgent challenge facing the Lasso government is the pandemic.
According to the analysis of the Financial Times, since the health emergency, Ecuador’s death toll from overweight is the second worst in the world.The response is chaotic: Last year there were five ministers of health.
Russo said his government will oversee the vaccination of 9 million people (more than half of the total population) in the first 100 days-an ambitious goal for countries that manage fewer than 2 million people.
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