The quake protects safeguards

After explaining the approval process that was followed in 2015 to approve safeguards 45%, 25%, 15% and 5%, the Committee of Foreign Trade (COMEX) saw fit to contextualize, in paragraph 14 of Resolution 006-2016 that the extension of the same for another year comes just two weeks after the earthquake of 7.8 on the Richter scale left 659 deaths and that will mean an extraordinary expense of $ 3,000 million for reconstruction.

Thus, the dreaded extension of safeguards, which was around the heads and ears of businessmen, economists, analysts and journalists for weeks, facing the dreaded unknown exchange bell, came true yesterday, the first day of validity.

The timetable for decommissioning stages (April, May and June), planned for this year moved in identical times and reductions to 2017. Only the surtax are free-of subheadings 700 2,900 Total afectadas- they were taxed at 5%.

With this, the government aims to raise $ 750 million for safeguards, according to Minister of Industries, Eduardo Egas, while continuing containing imports, as they argue, are part of the mismatch (I).

Source: http://expreso.ec/actualidad/el-sismo-ampara-las-salvaguardias-JN294902