Ecuador government drops fuel prices following protest deal
Get link
Facebook
X
Pinterest
Email
Other Apps
Ecuador government drops fuel prices following protest deal
Thousands of Indigenous protesters left Quito after leaders signed an agreement with the government to end 18 days of cost-of-living demonstrations.
Fast-rising fuel prices were the catalyst for the protests called by the powerful Confederation of Indigenous Nationalities (Conaie).
Five civilians and a soldier died in the protests that started on June 13, and hundreds were injured on both sides.
The government in Ecuador reduced fuel prices on Friday as part of a deal that ended more than two weeks of disruptive protests that had paralyzed the country.
Thousands of Indigenous protesters left Quito on Thursday evening after their leaders signed an agreement with the government to end 18 days of cost-of-living demonstrations.
Following mediation by the Catholic Church, the government agreed to drop fuel prices by 15 cents. On Friday, a gallon of gasoline dropped from $2.55 to $2.40 and diesel fell from $1.90 to $1.75.
Fast-rising fuel prices were the catalyst for the protests called by the powerful Confederation of Indigenous Nationalities (Conaie) and marked by burning roadblocks and sometimes violent clashes with the security forces.
Also Read
Ecuadoran president Guillermo declares state of emergency in 4 provinces
Ecuadorian President Guillermo Lasso declares a 30-day state of emergency in four...
Five civilians and a soldier died in the protests that started on June 13, hundreds were injured on both sides, and some 150 people were arrested.
Some 10,000 Indigenous protesters had congregated in Quito from their homes in Andean and Amazon regions for the protests.
On Thursday night, they began boarding trucks and buses adorned with Ecuador flags and the Wiphala, the colorful Indigenous flag.
Thursday’s deal included an end to the disruptive countrywide roadblocks and the lifting of a state of emergency in four of the country’s 24 provinces.
It also provides for a review of government decrees on oil exploitation and mining in Indigenous lands.
These 18 days were the longest period of social action undertaken by Conaie, which is credited with deposing three presidents between 1997 and 2005.
Indigenous people make up over a million of the 17.7 million people who live in the South American country.
Also Read
Anti-government protests in Ecuador have claimed four lives.
At least four people have died during protests against President Guillermo Lasso's...
The US dollar was seen losing ground against the rupee in interbank trading on Wednesday morning as it fell by 50 paisa, with analysts linking the development to optimism surrounding the expected release of loan tranches by the International Monetary Fund (IMF). According to the Forex Association of Pakistan (FAP), the greenback depreciated Rs1.45 against the previous day's close of Rs206 to reach Rs204.55 around 1:20pm. The FAP's closing rate of the last session shows a difference of 87 paisa from that of the State Bank of Pakistan, recorded at Rs206.87. By closing time on Wednesday, the greenback was being traded at Rs205.50 in the interbank. Exchange Companies Association of Pakistan General Secretary Zafar Paracha attributed the international currency's fall to the possibility of the IMF releasing two combined tranches of around $1.85 billion instead of the initially expected single tranche of around $1bn. On Tuesday, Pakistan received the Memorandum of Eco...
The rupee, which has been on an upward trend for more than a week now, continued strengthening against the dollar in the interbank market on Friday. By 10:05am, the local currency had gained Rs2.15 against the dollar to reach Rs224, up 0.95 per cent from yesterday’s close of Rs226.15. The rupee had been on a consistent decline from July 15 and fallen to a record low of 239.94 on July 28. But since July 29, it has reversed gears and its value had risen by Rs14.15 till yesterday (Aug 4). The biggest hike was seen on Wednesday (Aug 3), when the rupee appreciated by a record single-day gain of Rs9.59 or 4.19pc. This major gain by the rupee has brought exchange rate stability as currency dealers feel that the fluctuations would not be as volatile as were witnessed in July when the greenback gained over 13pc in a single month against the local currency. More to follow. Source link
https://www.news.qm.com.pk/pkr-gains-rs2-15-against-dollar-in-interbank-market-business/?feed...
Comments
Post a Comment