Fall in oil prices, will not affect the economy of Guayaquil, according to Mayor

The Mayor of Guayaquil, Jaime Nebot, clarified on January 6 that the city will not suffer due to the drop in international oil prices. The reason, according to him, there is sufficient liquidity and a healthy economy in the Municipality.

Nebot highlighted the austere city administration. “We will not interrupt any of our programs. The year is going to be difficult. The price of oil has dropped about $ 45. Half the oil revenue it´s gone,” he said.

He warned that “no one wants here that dollarization is endangered,” regarding certain versions that because of being in this regimewe can not devalue the currency “as if that was good.”