Previous Story
Credit and debt moratorium to reactivate areas affected by the earthquake
Posted On 28 Apr 2016
Image: El Universo
The Government, through various ministries, announced yesterday at a meeting with businessmen and local authorities measures to financially boost Manabi and Esmeraldas.
Official data show 6,790 companies in Manabi, 163 in Esmeraldas and 36 in Los Rios.
Coordinator Minister of Production Vinicio Alvarado announced that President Rafael Correa had signed a decree establishing the Committee for Reconstruction Productive Reactivation of areas affected by the earthquake, led by Vice President Jorge Glas, and the board composed of all the coordinating ministers, the National Secretariat of Planning and Development, entrepreneurs, sectional governments and the Prefecture of Manabi.
The committee will work on the basis of three pillars. The first thing is already evident, according to Alvarado, which is the economic recovery. Another one is the implementation of credit and the relaxation of financial commitments such as loan payments, credit card payments, both in public and private banks.
The Ministry of Labor proposed measures such as the work stoppage for up to three months, so that after overcoming the critical situation the employment relationship can be resumed, the reduction of working hours by up to 25% with the decrease of salaries, this measures will be routed by the ministerial agreement or in some cases are already listed as reforms.
