30/10/2025 FTS 04.30 In Ecuador, the banana exporting company Noboa reduced a debt of more than 95 million dollars with the state in less than a month teleSUR
These and more stories now!
🌐Join teleSUR's community and be part of a space where your ideas matter. https://chat.whatsapp.com/KLABTE41aSj3ioYabXQQ6K 🗣 Don't be left behind, join teleSUR's Channel https://whatsapp.com/channel/0029Va98Z437Noa2tjytCt1N Web💬 https://www.telesurenglish.net/ X🧶 https://twitter.com/telesurenglish Instagram 📸 https://www.instagram.com/telesurenglish/?hl=es Facebook 📱 https://www.facebook.com/teleSUREnglishOfficial Youtube ⏯ https://www.youtube.com/channel/UCmuTmpLY35O3csvhyA6vrkg Tiktok👌🏼 https://www.tiktok.com/@telesurenglish?_t=8hMLCY0a6z7&_r=1
00:00Welcome back. In Ecuador, the banana exporting company Novoa reduced a debt of more than $95 million with the state in less than a month by taking advantage of an interest remission through a law that was proposed by the government, approved by the legislature, and later declared unconstitutional by the Constitutional Court. Let's see more details.
00:23El gobierno de Daniel Novoa en Ecuador se mantiene en el ojo de las críticas.
00:28Daniel Novoa's government in Ecuador remains in the eye of the criticism, after the president continues to take action in his favor, and not for vulnerable sectors.
00:36For example, one of the main issues is the reduction of a million-dollar debt that his family owed to the state, thanks to the public integrity law, that allowed for the reduction of interest, a regulation that was declared unconstitutional by the Constitutional Court.
00:48And with that law, the large economic groups that were not up to date with their taxes were forgiven, as they were pardoned.
01:02There it is, also with the law on strengthening protected areas, for those who have debts with the National Financial Corporation.
01:11Last week, the law on the public forces and the police was approved, and with that law, large economic groups are once again benefiting.
01:18The company's initial debt was around $95 million, making it one of the country's biggest debtors.
01:35However, the debt decreased in less than two months from more than $95 million to $3.5 million, and a few days later it appeared to be zero.
01:43Immediately, the case sparked a debate about the limits between political power, economic benefits, and transparency in public management.
01:50I think it's terrible. It sets a bad precedent, especially at this time in Ecuador.
02:04And on the other hand, I think it shows us that, aside from setting a bad precedent, in the end, they don't respect the law.
02:11In the end, they end up doing what they want with the law. And that is the serious part, isn't it?
02:16And the fact is that, according to experts, this capital, when paid to the state, could have been invested in critical sectors of the country, such as health, education, and security.
02:35Yes, that's correct. A hospital could have been built, they could have invested in security equipment, and of course, the serious thing is that it seems to have disappeared as if by magic.
02:45It doesn't seem right to me. Here, those who are paying are the medium and small taxpayers.
02:53According to analyst Washington Andrade, the government's actions reveal a conflict of interest and a lack of transparency with a direct connection to the presidential family.
03:04However, he notes that this is not a new phenomenon during this administration.
03:08He describes the actions as rushed, repetitive, and lacking in leadership.
03:11So far, it has become evident that the role of the lawyers for the presidency of the republic and the assembly itself has been truly set and regrettable, lacking in arguments because it is difficult to defend the constitutionality, both in form and substance, of these laws that were approved.
03:32But, of course, what must be defended is the institutional framework, the constitution.
03:41Adding to these questions is the appointment of Alexandra Navarrete as head of the Internal Revenue Service by President Daniel Noboa,
03:50because the positioning occurred within the framework of the reduction of the Noboa Company's assets with that institution.
Be the first to comment