The CAN denies authorization of safeguard measure in Ecuador

The Secretariat of the Andean Community issued on January 26 a statement that says: “Before untrue reports that have circulated this afternoon in some media, in the sense that this General Secretariat issued its pronouncement regarding the request of the Republic of Ecuador to allow the application of an exchange safeguard, we allow ourselves to refute this information.”

In the document, the Secretariat of the CAN clarifies that on January 13, the member countries were reported that once an analysis of the request of the government of Ecuador was made, the General Secretariat “did not authorize the implementation of emergency measures implied in the eighth paragraph of Section 98 of the Cartagena Agreement. “

In the same way it says that “the General Secretariat has not yet issued its final ruling on the request made by the Government of Ecuador, regarding the establishment of safeguards by currency devaluation …”