The President of the Republic, Guillermo Lasso, needed 39 minutes, out of the three legally available hours, to refute his objections in the impeachment process conducted in the National Assembly. He was accused of embezzling the oil transport contract between the public company Flota Petrolera Ecuatoriana (Flopec EP) and Amazonas Tankers Pool, which was signed in 2018, before his administration.
Political uncertainty increases country risk. This is one of the first visible effects of the power struggle that Ecuadorians are noticing.
The indicator was 1,692 points on May 14, the day of the parliamentary elections, and 1,759 the next day, which is an increase of 67 points. Today it will be known how the markets will react to yesterday’s interpellation and defense of the president, and in the following days the effect will be seen due to the outcome of the political trial.
According to experts, with the country’s high risk, external financing is unfeasible.
Accuse Your Interpellators: President Guillermo Lasso’s Defense Strategy in a Political Trial
Embezzlement and ‘bad government’, the axes of the interpellation of Viviana Veloz and Esteban Torres in the political trial of Guillermo Lasso
In his speech to parliament, the president also noted the impact: “What is at stake is not only the viability of the government, but of Ecuador as a state.”
Speaking of insecurity, he asked if it would not be more sensible to support the government in a fight that requires unity rather than “useless political conflict”. And he was in line with the citizens who are looking for a turn of the rudder for the benefit of life, employment, health, education, housing, all the problems that are waiting for a solution, while in the legislative branch they are arguing about the power.
The examination of conscience and correction that the president spoke about for the Assembly and the Government are inevitable, they are a condition for both authorities. Citizens strive for transparent action, that justice and principles mark the path of the protagonist of this political trial. They alone are responsible, without future excuses, for the way this story was written and for the effects on Ecuadorians. (OR)
Source: Eluniverso
Mario Twitchell is an accomplished author and journalist, known for his insightful and thought-provoking writing on a wide range of topics including general and opinion. He currently works as a writer at 247 news agency, where he has established himself as a respected voice in the industry.
