President Lenin Moreno of Ecuador has scrapped fuel subsidies worth $1.3 billion annually. This has caused widespread protests since weekly. Moreno said that he battled the subsidies to increase Ecuador’s economy and ease the nation ’debt. Ecuador has agreed to reduce public spending in return for a loan by the International Monetary Fund (IMF).
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The article Ecuador scraps fuel subsidies — where will green energy fit in? Appeared initially on Electrek.
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