Austerity policies set to cause recession and higher unemployment after right-wing shift in Ecuador

After defeating a right-wing challenger in 2017 to succeed supposed ally Rafael Correa, Ecuadorian president Lenín Moreno lurched strongly to the right once in office. This year, for example, he has handed Ecuadorian citizen Julian Assange to British authorities and supportedWashington’s coup attempt in Venezuela.

Domestically, meanwhile, he oversaw a shocking economic reversal in March. Where his predecessor had opposed submission to Washington’s neoliberal international institutions, Moreno entered into an agreement with the International Monetary Fund (IMF) – an organization notorious for its coercive imposition of austerity measures in exchange for loans across the globe. Now, a leading research institute in Washington has exposed the likely brutal realities of this deal.

Continue reading

Leave a comment

Filed under The Canary

Leave a Reply