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BREAKING NEWS
Ecuador applies two doses of vaccine for every 100 inhabitants. How many are administered in other 48 countries in America?
Ecuadorian migrant died after falling from the border wall between the United States and Mexico
On April 13, vaccination will begin in Guayaquil with doses of Sinovac, within the Municipality-Government agreement
Facebook removes 390 accounts, focused on Ecuador, from that social network and Instagram for ‘foreign interference’
Otto Sonnenholzner suggests not to annul the vote
Three Petroecuador officials involved in the multi-million dollar Gunvor-related bribery scheme, according to the US FBI complaint
Ecuadorians will be able to identify condor sighting sites thanks to a map in Google Earth
The girls abandoned at the US border left Loja and went to Mexico through the Cotopaxi airport
Ecuadorian migrants were vaccinated in New York
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New reforms in the Mining Law seek to attract foreign investment

Posted On 06 Jun 2014

bella rica quezada.jpgWith a new reform of the Mining Law, the Ecuadorian Government seeks to expand its incomes to not depend on petroleum and taxes. The third source has been to turn to indebtedness, inside the country or abroad.

The state issues bonds and the Institute of Ecuadorian Social Security (IESS for its Spanish acronym) purchase them in exchange for a fee and a fixed term.

In addition, the Government has announced it will issue $ 700 million of bonds abroad and asked for USD 1,000 million to the World Bank. It transferred as collateral (warranty) half of its gold reserves, for a credit of USD 400 million from Goldman Sachs with an annual rate of 4.3%. That bank valued at $ 1,299 each ounce.

For one year, the sector has not received foreign investment due to the heavy tax burden. With the new changes in the current Mining Law, regarding regulations and decrees related to the activity, the Government hopes to realise some projects of gold, silver and copper that have failed to pass the pre-stage for the mines exploitation.

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LATEST NEWS

Ecuador applies two doses of vaccine for every 100 inhabitants. How many are administered in other 48 countries in America?

Posted On 10 Apr 2021

Ecuadorian migrant died after falling from the border wall between the United States and Mexico

Posted On 10 Apr 2021

On April 13, vaccination will begin in Guayaquil with doses of Sinovac, within the Municipality-Government agreement

Posted On 10 Apr 2021
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