Ecuador Government Holds Talks to End Chaos After Fleeing Quito
- Bonds plunge as investors weigh risks to IMF program
- President Moreno governing from second-largest city, Guayaquil
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Ecuador’s government-on-the-run is making overtures to protesters to negotiate an end to the chaos that drove it from the capital city.
Officials who took refuge in coastal Guayaquil are negotiating with organizations of indigenous Ecuadorians that blocked mountain roads to protest increases in fuel prices favored by the International Monetary Fund. Deputy Finance Minister Esteban Ferro said in a Tuesday interview that the government has money set aside for indigenous people, who are often poor and historically discriminated against. But it won’t reverse last week’s decision to end gasoline and diesel subsidies, Ferro said.