Ecuador Pres. Outlines Harsh Plan
Mar. 12, 1999
QUITO, Ecuador (AP) _ Ecuador's president announced a tax hike and other harsh economic measures Thursday, the country's latest attempt to address this small Andean nation's worst financial crisis in decades.
In a nationwide television address, President Jamil Mahuad also said he partially freeze checking aned savings accounts. He also detailed plans to jail tax evaders and eliminate sales tax exemptions except on food and medicine.