Ecuador’s Lasso proposes economic reforms to reactivate economy
BOGOTA, Sept 24 (Reuters) – Ecuadorean president Guillermo Lasso on Friday proposed new labor regulations and a tax reform targeting some $700 million in new revenue as part of a broad economic growth plan that will require approval from a skeptical legislature.
The oil exporting nation’s economy has for years struggled under low crude prices, and the pandemic left 5.8 million people without permanent employment. Lasso this year renegotiated a $6.5 billion financing agreement with the International Monetary Fund in order to speed up disbursements.
The labor and tax reforms will have to be approved by the National Assembly, where Lasso’s party does not have a…