October 14, 2019 / 11:45 PM / a month ago

Ecuador's Moreno signs decree ditching fuel subsidy cuts after protests

FILE PHOTO: Police students carry boxes in the aftermath of the last days' protests, after the government of Ecuadorian President Lenin Moreno agreed to repeal a decree that ended fuel subsidies, in Quito, Ecuador October 14, 2019. REUTERS/Henry Romero

QUITO (Reuters) - Ecuador’s President Lenin Moreno signed on Monday an official decree, repealing his own fuel subsidy cut that sparked days of violent, indigenous-led protests, and reverting fuel prices to their previous levels.

In the decree, Moreno said the fuel prices would revert to their earlier levels at midnight. He added that the government would seek to define a new plan to tackle the fuel subsidies that do not benefit the wealthy or smugglers, with fuel prices remaining at prior levels until the new legislation is ready.

Reporting by Gabriel Stargardter; Editing by Muralikumar Anantharaman

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