Ecuador Central Bank Favors Tax Hike to Avoid “Triple Crisis”

Ecuador Central Bank recommends permanently increasing the value-added tax to “avoid a triple crisis,” President Guillermo Avellán said via X, formerly Twitter.

• Triple threats include security and fiscal crises and risks to Ecuador’s use of the US dollar as its currency
• Other necessary measures include continuing to produce oil in the Ishpingo-Tambococha-Tiputini field slated for shutdown and targeting of fuel subsidies
• NOTE: Ecuador Leader Seeks Tax Rise to Finance War on Drug Cartels

To contact the reporter on this story:
Stephan Kueffner in Quito at skueffner1@bloomberg.net

To contact the editors responsible for this story:
Crayton Harrison at tharrison5@bloomberg.net

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