Financial Crime World

Ecuador’s President Dissolves National Assembly Amid Impeachment Proceedings Over Corruption Allegations

In a surprise move, Ecuadorian President Guillermo Lasso dissolved the country’s National Assembly on Wednesday, just one day before he was set to present his defense in an impeachment hearing. This decision has sparked widespread outrage and accusations of a “self-coup” from opposition leaders.

Background: Corruption Allegations

Lasso’s administration is facing allegations of corruption, including ties to organized crime figures and use of offshore accounts to hide assets and avoid taxes. His brother-in-law and business associate, Danilo Carrera, is also accused of being involved in the alleged corruption scheme.

The Dissolution of the National Assembly

The National Assembly had been investigating Lasso’s administration over claims of corruption and abuse of power. However, with the dissolution of the Assembly, it appears that the President will not be held accountable for his actions through the impeachment process.

Reactions to the Decision

  • “This is a clear attempt to avoid accountability and perpetuate a culture of impunity,” said Representative Raúl Grijalva (D-AZ). “The people of Ecuador deserve better than a government that prioritizes self-interest over transparency and accountability.”
  • “The dissolution of the National Assembly is a clear sign that Lasso is desperate to cling to power,” said Dr. Francisco de la Torre, an expert on Ecuadorian politics. “This move will only further destabilize the country and undermine confidence in its institutions.”

Economic Concerns

Lasso’s decision has also raised concerns about the stability of Ecuador’s government and economy. The country has already defaulted on its foreign debt 11 times, including a dramatic default under former President Rafael Correa in 2008.

  • “From my perspective, I think Lasso’s government is increasingly isolated,” said Dr. Francisco Long, a scholar at the University of Arizona. “However, there is still a possibility that he may garner enough support to save him from impeachment yet again, despite his unpopularity and political weakness.”

Outlook

The national election authority must now move to hold elections within six months, with Lasso’s party, CREO, likely to face stiff competition from opposition parties. In the meantime, Lasso has already made changes to the tax code, sparking concerns about the impact on Ecuador’s economy.

Call to Action

  • “The people of Ecuador deserve better than a government that prioritizes self-interest over transparency and accountability,” said Representative Raúl Grijalva.