Confederation of Indigenous Nationalities of Ecuador in South America (for example Plan Colombia). In 2013 CONAIE became more involved in discussions with other indigenous organizations involving land rights and environmental sustainability due to deals made by the government with large multinational oil companies. These deals primarily concern the Amazon basin, and would take over much of the indigenous land that is currently inhabited. There has been much debate for many years between the governments, the indigenous peoples, and the oil companies. Chevron (formerly Texaco) is a major oil company which has had a presence in Ecuador; recently Chevron has come into many Ecuadorian headlines regarding drilling
Economic history of Ecuador rapidly worsening economy as he assumed office on August 10, 1988; within a month he announced a national economic austerity program that included a sharp devaluation of the sucre, tax increases, new import restrictions, a reduction in public-sector spending, a 100-percent increase in fuel prices, and a 40-percent boost in electricity rates for private households. Borja also opened new negotiations with foreign creditors to whom Ecuador was in arrears for almost US$1 billion. The president, however, refused to lift the suspension of foreign debt payments, imposed by Febres Cordero in 1988, until April 1989. Borja's austerity policies and the resulting