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Article: ECUADOR: PRESIDENT GUSTAVO NOBOA FACES STRIKES & BANK CRISIS.(Statistical Data Included)
- Article from:
- NotiSur - South American Political and Economic Affairs
- Article date:
- July 27, 2001
CopyrightCOPYRIGHT 2001 Latin American Data Base/Latin American Institute. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Growing social unrest and an impasse in talks with indigenous groups awaited Ecuadoran President Gustavo Noboa in mid-July when he returned from a trip to Spain, where he went looking for money and an agreement on the status of Ecuadoran immigrants in Spain. In addition, Noboa found it necessary to close the nation's largest bank, state-controlled Filanbanco, because of a lack of liquidity.
On July 6, lawmakers voted to raise their salaries by US$600 to US$2,100 a month, although Congress president Jose Cordero conditioned the raise on implementation of controls to ensure lawmakers' attendance at both plenary and committee sessions.
The raise angered ...