Police step up operations on Cuenca-Molleturo hwy.; IESS makes fewer mortgage loans; Gov’t offers help to returning migrants; Graffitistos remove their work
Martes, 28/1/2025
Hola, Todos –
Titular –
Cifras a la baja en hipotecarios (Downward figures for mortgage loans) – In 2024, the Banco del Instituto Ecuatoriano de Seguridad Social (BIESS – Bank of IESS) made $537.5 million in mortgage loans representing a decrease from $587.7 million made in 2023. This decrease reflects a trend that has been maintained since 2014 when it made $1,190.3 in loans – a decrease of 54.9%. Roberto Escandón, a financial analyst, said that one of the main reasons is a reduced credit capacity of Ecuadorians. The demand for housing was reduced due to the political and economic instability and banks are stricter in qualifying borrowers. The construction sector has also been affected. Henry Yandún, president of the ‘Constructores Positivos’ guild said that for every 3 people interested in buying housing, only 1 qualifies for a mortgage. According to the guild data, the combined loans from private banks, BIESS, and cooperatives was $2,045 million in 2022 and fell to $1,831 million in 2024.
Cuenca teenagers who defaced the front of Botica Olmedo, a historic house on Calle Juan Jaramillo, remove their work. (El Mercurio)
Eduardo Peña, president of IESS, said that young people under 25 who are affiliated with IESS can get a 25-year mortgage with 6% interest. He said that there were 10,594 new “Afiliación Joven” members as of el 21/1/2025. To apply for a BIESS loan, go to www.biess.fin.ec, pick ‘Créditos Hipotecarios’, then pick ‘Solicitar préstamo,’ enter your cedula and password and fill out forms. You have to be affiliated with IESS, and not over 77 years old. <I’m guessing lenders want some reassurance that you’ll live long enough to pay down the loan although at 77 years old, it’s not likely you’d live long enough to pay it off.>
Cuenca –
Jóvenes ‘repintan’ un inmueble patrimonial (Youths ‘repaint’ a heritage property) – A group of young people who damaged the facade of a historic building in the Centro Histórico recognized their error and as an act of remediation, they painted the affected property. This action sought to highlight the importance of caring for and conserving patrimonial properties in the city. The Municipality stressed that this type of property forms part of the identity of the “casa grande” and its preservation is a responsibility shared by authorities and the citizenry. It reminded people that both public and private property should be respected by all, promoting a promise for the protection of patrimony.
De El Mercurio del lunes, 27/1 (1 article):
Operativos en la vÃa Cuenca-Molleturo contra los asaltos (Operations on the Cuenca-Molleturo highway against robberies) – The institutions charged with safety are maintaining frequent operations to prevent assaults on the vÃa Cuenca-Molleturo-El Empalme, the main connection between Azuay and Guayas provinces. It is risky due to the constant robberies by criminal groups. There were 2 assaults in the last week with one on el 21/1 at km. 80 where the attackers shot at a van, grazing the driver’s ribs. On the 23/1, a security round table with various agencies met. Santiago Malo, Governor of Azuay, said that one of the resolutions to reinforce security is the implementation of frequent Control de Armas, Municiones y Explosivos (CAMEX – Control of Weapons, Ammunition and Explosives). One control was held el 25/1 a las 22:00 at km. 46 where the PolicÃa Nacional, Fuerzas Armadas, and the Comisión de Tránsito del Ecuador checked that the occupants of vehicles were not carrying firearms or other objects presenting a risk to other travellers. That night, CTE agents detained a car for a traffic violation. <First time I’ve heard of that happening. Cops mostly seem to watch as drivers run red lights, almost hit pedestrians, etc.>
Carlos Tenesaca, manager of Operazuay Tour, explained that one of the risk factors is the bad condition of the highway in the stretch between km. 89 & 90 where vehicles are forced to slow down. He said that a few years ago, there was a landslide where the road was rebuilt to one side leaving a 600 m. stretch in poor shape. There is also no cell signal in the area, making asking for help difficult in an emergency. The danger on the Cuenca-Molleturo-El Empalme road is worrying because it is one of the main roads to Cuenca which is one of the main tourist destinations in Azuay.
Nacional –
Gobierno dice tener plan para recibir a deportados (Gobierno dice tener plan para recibir a deportados) – Chancellor Gabriela Sommerfeld announced that the Government has an assistance plan for Ecuadorians deported by the Trump government and returning from the US. Working with the Programa Mundial de Alimentos (World Food Program), returning Ecuadorians will receive food packages, education for their children, health care, a cell phone chip, and money to get back to their families as well as psychological assistance. The Chancellor estimated that about a half million Ecuadorians live in the US and social organizations said that about 40,000 will be deported. <I wonder if Ecuador is thinking about deporting expats with irregular immigration statuses. And if so, what kind of greeting they will get when they arrive in the US – little care packages? Or should they just be grateful their luggage arrived with them and is not in Timbuktu.>
And that’s all for today so hasta ? –
Jeanne
