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Guidelines announced for electronic money system

Electronic money guidelines announced Ecuador’s Central Bank has set limits of $2,000 per month and $300 per day for transactions under its new electronic money system. For companies, the limit is $20,000 per month, but the amount can be extended with prior approval,...

Ecuador car sales sluggish

National car sales show little growth Car dealers are blaming national tariffs and import quotas on continuing slow sales. In the first nine months of 2014, sales grew only 1.31%. The president of the Association of Automobile Companies, Diego Luna, says that growth...

Tram opponents demand investigation of project contracts

A delegation calling itself the Cuenca Civic Collective is asking the country’s comptroller general to investigate the financial arrangements of the city’s light rail system, Tranvía de los Cuatro Rios. Collective members are demanding that the investigation begin...

Ordoñez Lasso construction work set to begin in early 2015

Ordoñez Lasso construction to begin in early 2015 Ecuador’s Ministry of Transport and Public Works (MTOP) says it has almost completed right-of-way purchases for the expansion and reconstruction of Av. Ordoñez Lasso and work should begin in February or March 2015....

Holiday sales already going strong on Doce de Abril

Although the date of Cuenca’s independence from Spain doesn’t arrive officially until Monday, holiday activities are already in full swing. Vendors of crafts, housed in white tents along Av. Doce de Abril, have been busy making sales since Tuesday. Doce de Abril...

Changes planned for San Francisco Square project

There will changes to the renovation plans for Cuenca’s San Francisco Square, the city says. The original design, developed during the administration of former Mayor Paúl Granda, had been criticized by vendors who work on the plaza and by some architects. Vendors in...

Ebola controls established for international travelers

Ecuador’s Ministry of Public Health has established steps to identify and treat international travelers arriving in the country who may be infected with the Ebola virus. It says that it has set protocols at the international airports in Guayaquil and Quito similar to...

Latest phase of Coopera repayments affects 119

More Coopera investors receive partial repayment In the fourth phase of repayments to investors in the failed Cuenca financial cooperative, Coopera, account holders with accounts of up to $102,000 are receiving payment of $46,875. The government said that, as of...

Cuenca underemployment at 26%

Underemployment affects 26% in Cuenca According to the latest statistics from the National Institute of Statistics and Census (INEC), more than a quarter of Cuencanos are underemployed. INEC defines the underemployed as those who want to work full time but cannot, and...

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The Cuenca Dispatch

Week of April 26

Reservoir drop renews pressure on Ecuador’s electric grid.

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New naval station aims to shut down drug routes through Gulf of Guayaquil.

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Ecuador turns to targeted tax changes to raise $1.5 billion under IMF program.

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Fund Grace News