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Ecuador ongoing power crisis takes heavy toll on the economy

Quito, Oct 23 (Prensa Latina) Ecuador marks on Wednesday one month of extended daily blackouts due to the energy crisis gripping the country, in the aftermath of drought and lack of appropriate investment, a situation that affects the economy and daily life at large.

The rumbling from power generators in the streets is now commonplace in cities like Quito, where some merchants seek this alternative to avoid losing their businesses, and others, who do not have resources to purchase this equipment, just try to adapt to the circumstances.

In an attempt to mitigate blackouts, the Government announced zero tariffs on importing generators. The state-owned bank BanEcuador informed that it would offer special loans for the purchase of these devices and solar panels.

This is the second time that Ecuador has suffered blackouts during the administration of President Daniel Noboa.

The country faced power outages for several weeks in April this year, when Noboa accused his then Energy Minister Andrea Arrobo of attempted sabotage.

As the drought worsened in a country that generates 70 percent of its electricity from hydroelectric plants, the inadequate investments in such plants came to surface.

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