Ecuador Lawmakers Reject Conservative President Lasso's Investment Bill
March 24, 2022
7:48 PM CDT
Last Updated an hour ago
By Alexandra Valencia
QUITO, March 24 (Reuters) - Ecuadorean lawmakers on Thursday roundly rejected a proposed bill that conservative President Guillermo Lasso had said would attract investment for the beleaguered economy, but which opponents decried as privatisation of public assets.
Lasso, a former banker who does not have a majority in the legislature, in February asked lawmakers to approve the creation of public-private partnerships to facilitate infrastructure projects - using the stock market to raise financing - and create free trade zones.
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The law would have promoted the privatisation of public property, including the country's water resources, opposition lawmakers said.
"This law has been rejected because we have not accepted the blackmail of lawmakers who come to ask for hospitals, electricity companies and ministerial posts in exchange for their votes," Lasso said on social media.
More:
https://www.reuters.com/world/americas/ecuador-lawmakers-reject-conservative-president-lassos-investment-bill-2022-03-25/