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News Link • Economy - International

Ecuador to Compensate Exporters Hurt by End of U.S. Trade Preferences


The law was approved with 103 votes in favor and only one against. It will compensate exporters with about $23 million a year.

The law allows for the giving of tax-credit certificates to companies affected by the removal of the preferences. The certificates can be used to pay taxes or some debts with state-owned banks.

The government of President Rafael Correa has said that the impact of losing the preferences will be $23 million a year, while Ecuadorean exporters put the number at $26 million.

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