The Confederation of Indigenous Nationalities of Ecuador Rise Up

A popular insurrection, led by indigenous leaders and unions, ousts President Jamil Mahuad. Mahuad had begun implementing IMF austerity measures and planned to replace the local currency with the US dollar. The CONAIE (Confederation of Indigenous Nationalities of Ecuador) led people to the streets. Populist military leaders took over the revolt and placed a junta in power before putting power back in the hands of the Vice President, billionaire Gustavo Noboa. The leading insurgent military officer, Lt. Col. Lucio Gutierrez, was imprisoned. He later ran for and won elections in 2002, but then planned to institute the very same policies and was himself deposed by CONAIE and other social movements.