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Ecuador says vote to halt Amazon oil drilling a 'terrible precedent'
Ecuador says vote to halt Amazon oil drilling a 'terrible precedent'
by  AFP

Ecuador's energy minister said Wednesday that a vote to halt drilling in an Amazon oil block set a "terrible precedent" and it would be a long and complex task to dismantle the installation. However, Energy Minister Fernando Santos described the decision to halt drilling as "a very serious blow to Ecuador's dollarized economy, which depends on crude oil, its main export."

Turkish lira surges after Erdogan backs huge rate hike
Turkish lira surges after Erdogan backs huge rate hike
by  AFP

Turkey's troubled lira surged Thursday after the central bank delivered a much larger than expected interest rate hike that broke free from President Recep Tayyip Erdogan's era of unorthodox economics. Most economists had expected the bank to lift its policy rate to 20 percent on Thursday.

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