Ecuadorian President Guillermo Lasso has dissolved the country's parliament in the middle of impeachment proceedings against him.
Lasso's office said in a statement on Wednesday that the president would rule by decree until new parliamentary elections are held.
A date for new elections would be set within a week, according to the statement.
"It is impossible to solve the challenges with a parliament whose goal is to destabilize the country," Lasso said in a televised address. "I have to give an answer to the political crisis. Ecuador needs a new political and social pact."
Lasso is accused of knowing about unfavourable contracts between the state oil transport company Flota Petrolera Ecuatoriana and the private shipping company Amazonas Tankers, but doing nothing to modify or terminate the deals after taking office.
The unfavorable contracts are said to have cost the Ecuadorian state several million dollars.
Lasso on Tuesday rejected allegations of embezzlement that have been levelled against him in parliament.
