Popular revolt against IMF gaining momentum in Ecuador

Farmers, workers claim IMF loan obligates implementing a number of belt-tightening measures

ANKARA: Ecuadorian farmers on Tuesday gathered in Quito to protest a deal the government of President Lenin Moreno signed with the International Monetary Fund (IMF) in March.

Organisers chose the historic centre of the mountainous capital city for demonstrations and penned a letter to the presidential palace explaining why they reject the deal.

Popular protests against the IMF were rallied by campesino (farmer) groups who say the "neoliberal policies directly affect rural workers" in their efforts to mobilise more union groups across the country, according to Venezuelan broadcaster TeleSur.

The Executive Board of the IMF on March 11 approved a $4.2 billion arrangement under the group's Extended Fund Facility (EFF) for Ecuador to support the economic policies of the South American nation over the next three years.

Farmers and workers claim IMF loan obligates Ecuador to implement a number of belt-tightening measures as well as new spending cuts and the withdrawal of labour rights at a time when the Ecuadorians are already inflicted economically.

They also voiced concerns regarding the privatisation of state companies, in particular, the state telecom company CNT, which is currently in the process of privatisation.

Ecuador is contemplating a 20-year concession license for CNT, passing operating control to the private sector in a bid to curb government spending.

Protests are expected to grow next week when Unitary Workers' Front (FUT), the country's largest labour union federation, will be mobilising workers against the IMF deal.