Economy & Business - July 2023

ECUADOR: Pendulum swing likely in snap elections

Ecuador’s centre-right President Guillermo Lasso invoked the constitution’s Article 148, commonly known as the ‘muerte cruzada’, on 17 May, dissolving the opposition-controlled national assembly and allowing him to rule by decree until new presidential and legislative elections are held on 20 August. Lasso was facing an impeachment trial over accusations that he was aware of an embezzlement scheme being carried out between state-owned oil transport company Flota Petrolera Ecuatoriana (Flopec) and the private company Amazonas Tankers, and yet chose not to intervene. Lasso has denied the accusations, claiming that the impeachment effort was undemocratic.

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