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LATIN AMERICA ADVISOR

LATIN AMERICA ADVISOR

A daily publication Of the dialogue

July 19, 2024

Can Ecuador’s Noboa Successfully Cut Fuel Subsidies?

The government of Ecuadorean President Daniel Noboa announced last month that it is cutting longstanding fuel subsidies. // File Photo: Ecuadorean Government.

Q

A

Jose L. Valera, partner at Mayer Brown in Houston: “Subsidies for premium-grade gasoline were eliminated during the administration of former President Moreno, and since taking office in January, President Noboa has announced his intention to eliminate the remaining gasoline subsidies. They cost $3.3 billion, about the same amount as the state spends on health services for the country. Subsidies for medium and regular grades were eliminated as of July. As of August, the government will implement a price band to stabilize market price fluctuations. Monthly price increases will not exceed 5 percent, and decreases will not exceed 10 percent. The announcement was made two weeks after…”

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The Inter-American Dialogue publishes the Latin America Advisor every business day for a distinguished membership of informed corporate leaders, scholars, and government officials invested in Latin America’s development and future. The Advisor‘s highly regarded Q&A section covers questions submitted by subscribers themselves. Commentators regularly include heads of state, business leaders, diplomats, economists, analysts, and thought leaders from around the world. Many of the world’s largest and fastest-growing companies subscribe to the Advisor. To subscribe, click here. For terms and conditions, click here. For more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.

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Gene Kuleta
Editor
P. 202.463.2920
E. gkuleta@thedialogue.org

Carl David
Goette-Luciak
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Diego Arria
Director,
Columbus Group

Merike Blofield
Professor of Political Science,
University of Hamburg

Devry Boughner Vorwerk
CEO,
DevryBV Sustainable Strategies

Joyce Chang
Global Head of Research,
J.P. Morgan

Marlene Fernández
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Arcos Dorados (McDonald’s)

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President Emeritus,
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Senior Director,
Int’l Gov’t Relations,
Exxon Mobil

Barbara Kotschwar
Professor of Political Economy,
Georgetown University

John Maisto
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US Education Finance Group

Nicolas Mariscal
Chairman,
Grupo Marhnos

Thomas F. McLarty III
Chairman,
McLarty Associates

Beatrice Rangel
Director,
AMLA Consulting

Ernesto Revilla
Head of Latin American Economics, Citi

Gustavo Roosen
President,
IESA

Andrés Rozental
President, Rozental &
Asociados

Shelly Shetty
Managing Director,
Sovereigns, Fitch

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