- Ecuador’s President Guillermo Lasso will face an impeachment trial for alleged corruption by legislators on a charge of allowing corruption in government, a process that could take up to 45 days, after the constitutional court gave the go-ahead.
- The impeachment must be backed by 92 of the 137 legislators in the unicameral congress. If the vote to remove him passes, Lasso would be replaced by vice-president Alfredo Borrero.
- Lasso is less than halfway through his four-year term and has already survived two congressional votes to oust him.
- Ecuador’s 2035 bonds have fallen steadily, from about 53 cents on the dollar in early February to 33 cents on Thursday, as growing worries about the uncertain political outlook fuel investor demand for extra yield on the country’s sovereign debt.
- Lasso has said the accusations are unjustified and lack any legal basis.
Ecuador’s president faces impeachment trial over corruption charge
Court allows hostile congress to proceed with case against unpopular conservative leader Guillermo Lasso
Michael Stott
/cloudfront-us-east-2.images.arcpublishing.com/reuters/6W5WJY7T4NLKVFJO5JX37LPYS4.jpg)
/cloudfront-us-east-2.images.arcpublishing.com/reuters/OGBROYPEZVMVNLCKMBDIE2XJCE.jpg)
