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Riot police confront demonstrators during clashes in Quito. Photo: Rafael Rodriguez/NurPhoto via Getty Images

Ecuadorean President Lenin Moreno on Monday said he temporarily moved government operations from the capital Quito to the port city of Guayaquil amid protests against his termination of a fuel subsidy, the Wall Street Journal reports.

Why it matters: Only 2 Ecuadorian presidents have completed a full 4-year term over the past 27 years, but no previous president in recent Ecuadorian history has moved the government to avoid unrest, per WSJ. Moreno called a state of emergency on Oct. 4.

Context: Moreno took office in 2017 pledging to maintain his leftist processor's social policies. However, last week he announced that his administration would end a 4-decade-old, $1.4 billion-a-year fuel subsidy which he said was holding down fuel prices and enabling smuggling and corruption.

  • His announcement triggered strikes by transport unions. Indigenous groups later joined in and have blocked roads and highways.
  • The government said on Monday that it was suspending production in 3 oil fields in the Amazon region after protesters seized the facilities. The seizures affected 12% of the country's oil production.
  • So far, at least 500 people have been arrested as the protest enters its 4th day.

What's next: Thousands have traveled to Quito for a large protest planned for Wednesday, according to the BBC.

Go deeper

Michigan board certifies Biden's win

Poll workers count absentee ballots in Detroit, Michigan on Nov. 4. Photo: Salwan Georges/The Washington Post via Getty Images

The Michigan Board of State Canvassers certified the state's election results on Monday, making President-elect Joe Biden's win there official and granting him the state's 16 electoral votes.

Why it matters: Republican Party leaders had unsuccessfully appealed to delay the official certification, amid the Trump campaign's failed legal challenges in key swing states.

Biden to nominate Janet Yellen as Treasury secretary

Photo: Photo by Alex Wong/Getty Images

President-elect Joe Biden is preparing to nominate former Fed Chair Janet Yellen as his Treasury Secretary, four people familiar with the matter tell Axios.

Why it matters: Yellen, 74, will bring instant economic celebrity to Biden’s team and, if confirmed, she will not only be the first female Treasury Secretary but also the first person to have held all three economic power positions in the federal government: the chair of Council of Economic Advisers, the chair of Federal Reserve and the Treasury Secretary.

2 hours ago - Podcasts

Bob Nelsen on AstraZeneca and his plan to revolutionize biotech

AstraZeneca and the University of Oxford on Monday reported promising efficacy data for their COVID-19 vaccine, which has less stringent storage requirements than the Pfizer and Moderna vaccines and may be distributed earlier in developing countries.

Axios Re:Cap digs into the state of vaccine and therapeutics manufacturing with Bob Nelsen, a successful biotech investor who on Monday launched Resilience, a giant new pharma production platform that he believes will prepare America for its next major health challenges.