Ecuadorian president, top officials to slash salaries by 50 pct amid COVID-19 economic crunch

Ecuadorian President Lenin Moreno on Sunday announced he and other senior government officials will take a 50 percent pay cut amid the economic crisis sparked by the COVID-19 outbreak and lockdown.

The austerity measure will apply to his vice president and cabinet, as well as members of the National Assembly, and regional and municipal leaders, Moreno said via Twitter.

"The pandemic hit Ecuador at a critical time, in the wake of a severe economic crisis," Moreno said in a nationwide address.

Moreno earns 5,635 U.S. dollars a month, according to official figures.

The announcement came after Moreno unveiled a series of economic measures on Friday to cope with the "health, economic and social emergency," including the creation of a National Humanitarian Aid Account to be financed with 5 percent of profits of companies with revenues of over a million U.S. dollars.

Ecuadorian workers earning more than 500 U.S. dollars a month will also be making a progressive contribution over a nine-month period to help lower-income households.

Ecuador has reported 7,466 confirmed cases of the novel coronavirus and 333 deaths.

(ASIA PACIFIC DAILY)