The president insists that there is no economic crisis. For him, the country is going through an “economic hardship” or “very serious liquidity problems.” In his speech, the word crisis does not appear.
And, according to him, it was the central government that absorbed the impact of falling oil prices on the international market. “Local governments have hardly felt the problem,” he said yesterday in an interview in the Chillanes town, in Bolivar.
He said this even though the treasury owes about 813 million dollars to municipalities, provincial governments and parishes, according to the accounts of the mayor of Guayaquil, Jaime Nebot.