Ecuador Crisis: Some citizens worried bad times of 1990′s returning

Posted on November 29, 2015 • Filed under: Economy, Ecuador

NPR.ORG – Ecuador’s economy is faltering thanks to a year of record low oil prices and fears of a “godzilla” El Niño forming in the Pacific Ocean. The situation is drawing bizarre parallels to the last major financial crisis to hit the small South American country in the late 1990s. KELLY MCEVERS, HOST:

People in Ecuador are worried they’re about to relive the bad times from the 1990s. Back then, oil prices were at a record low and an El Nino weather system did a lot of damage to the country’s coast. Now a powerful El Nino is again forming off the coast of South America, and Ecuador’s oil-dependent economy is faltering. NPR’s Kirk Siegler reports.


KIRK SIEGLER, BYLINE: To get to the heart of Ecuador’s oil-dependent economy, I traveled deep into the Amazon jumble where you’ll find the seedy boomtown of Lago Agrio. Walk these oppressively hot and humid streets and people will give you an earful about how bad things are right now. Read Article-Listen to Audio

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