A press release from Ecuador’s government website discussed on Nov. 21 a reform for minimum wages for the Ecuadorian workforce. Businesses will be forced to distribute the profits among employees within the companies they work for.
President Rafael Correa called it a just and dignified salary change for families to cover basic living expenses. The figure that was calculated is approximately $320, according the government report.
Correa emphasized there are no salary incentives for employees in numerous sectors. He pointed out employees working in the oil sector made commissions or salary bonuses while workers that specialize in Arts and Crafts make nothing.
The legislative changes are to change the capitalistic exploitation and level out the field for wages. President Correa said he is not going after private companies or looking to close them down. He wants to pursue social changes that have plagued the country with previous administrations, according to the report.
Ecuador’s president has faced in recent weeks sharp opposition due to with massive blackout and growing concerns over of economy. A recent report from the Wall Street Journal has the producer price index in September rose 1.14 percent for Ecuador. The sector for Agricultural and fishing products were down 12.64 percent and the minerals, electricity and water fell 21.44 percent from a year ago.
The socialism agenda in South America is in its infancy and will continue to transform the region. There has been little exchange and growing tension with Washington because of the debate over the addition of the military bases in Colombia, neighboring country to Ecuador.
The dialogue may change under the new administration but will require negotiation and diplomacy. Until tensions ease collaborations between the U.S and Ecuador will remain a work in progress.
Comments
This is not necessarily a bad thing, $320USD for a minimum wage is fairly enough. Here in Colombia the minimal wage is about $250USD and medium and 'big' companies pay no more than $400USD for a Bs. in Engineering graduate, that is per month basis while most of the management makes no less than $4000 USD. These gaps create a fissure socially that enable a socialist agenda (mostly rhetorical) to be used by politicians to gain support.
Got something to say?
Examiner.com is looking for writers, photographers, and videographers to join the fastest growing group of local insiders. If you are interested in growing your online rep apply to be an Examiner today!