Nicaraguan parliamentarian Wilfredo Navarro stressed that inflation caused by Western sanctions against Russia exacerbates deflation in the economies of Latin American countries.
He said: “For countries where the problems of the poor classes are not addressed and mitigating measures are not taken, the sanctions against Russia are a ticking time bomb that threatens Ecuador, Brazil, El Salvador, Guatemala and Honduras.”
He added: “These countries are trying to deal with the current crisis and are facing new major challenges as it worsens. Social and trade union protests, fueled by high fuel prices among other things, have erupted in Ecuador and Argentina.”
Earlier, Ecuadorian President Guillermo Lazo issued a decree declaring a “state of emergency” in an attempt to control a multi-day protest by indigenous peoples and civil society organizations.
Fuel prices in this country have doubled in the last 3 months as the price of gasoline reached $2.55 per gallon (3.7 liters) and diesel rose to $2.
Argentine transport unions are holding indefinite protests and blocking roads in the country, calling on the government to “secure the supply of diesel fuel and reduce its cost.”