The oil-rich Latin American country of Ecuador finds itself yet again on the cusp of an economic crisis. Attempts to reform the disaster-prone economy and ease fiscal pressures for a heavily indebted government continue to flounder, with most efforts ending in civil unrest. Ecuador, like many countries in the region, was hit hard by the COVID-19 pandemic, which caused the gross domestic product to contract by 7.8%, poverty to soar and already weak government finances to come under considerable pressure. Even the adoption of the U.S. dollar after…
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