The president's provision consists of a deferral of obligations for up to 90 days.

Ecuadorian President Daniel Noboa issued Decree 444 on Tuesday, November 5, 2024. With this document, the Head of State ordered financial institutions to provide financial relief to people who are in debt due to the energy crisis the country is experiencing.

"The Presidency of the Republic recognizes the efforts of Ecuadorian citizens to confront the impacts of the energy emergency that the country is experiencing due to the worst drought that Ecuador has seen in decades," said a statement issued by the Presidency.

The statement indicates that the President's decision is directed at public, private, popular and solidarity financial institutions. The same measure applies to commercial houses.

The economic relief established by Noboa consists of a deferral of obligations for up to 90 days.

"These establishments will be able to create extraordinary and temporary deferral programs for their clients' financial obligations for up to 90 days. Thanks to this measure, no additional interest charges, moratoriums, surcharges or fines will be applied to the beneficiaries," he said.

Finally, the Head of State also ordered that Internet service providers in the country implement compensation measures for their users. One of these would be to establish payment facilities in billing forms.

"The National Government is aware of the difficult times the country is facing, and that is why it is committed to working tirelessly to provide the necessary support to the families that need it most," the statement concluded.