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Effective deeds and not only sweet words
ECUADOR · Report · 22 Jan 2018

Alianza Pais, the most powerful political party of the last 10 years, finally broke last week when the hard Correista group decided to exit the party and create a new one called The People’s Revolution headed once more by Rafael Correa. This group is actively campaigning against the “yes” to t...

The public debt auditing and overseeing commission
ECUADOR · In Brief · 09 Jan 2018 · 1 response

The Comptroller General is conducting an audit to public debt contracted between 2012 and 2017. The scope of the analysis covers domestic and external debt including Chinese loans and oil facilities despite the claim from the government that this financing does not constitute debt but just a pre-...

A new vice-president was elected
ECUADOR · In Brief · 08 Jan 2018

After three months of political uncertainty, the destiny of former Vice-President Jorge Glass, sentenced to six years of prison, was sealed this past Saturday when legislators voted for Deputy Vice-President Maria Alejandra Vicuna to continue in office. Vicuna, once an enthusiastic Correista who ...

The mountain in labor
ECUADOR · Report · 13 Dec 2017

At the end of November, former President Rafael Correa threatened Moreno and his fellow “traitor supporters” that he would return to Ecuador and expel them from the presidency and the membership of Alianza Pais, respectively. He also promised Ecuadorians he would stop the referendum on grounds ...

A more powerful albeit disappointing Moreno
ECUADOR · Report · 13 Nov 2017 · 1 response

The government submitted for the Legislature’s approval the budget for 2018 together with a new “reform package” that Moreno justified as necessary “to keep schools and hospitals open on the fault of the economic mismanagement of my predecessor”. The tax and trade duties reform contained in th...

Update on debt and liquidity
ECUADOR · In Brief · 24 Oct 2017 · 2 responses

In the last 10 days, $3,200 million of new financing has reliefed the liquidity crisis of the public system. From these, $2,500 million of 10-year new bonds at 8.875% and an operation for $500 with Goldman Sachs with 35 months of maturity and at Libor + 4.75% will help the Ministry of Finance to ...

Trying to please both God and the Devil
ECUADOR · Forecast · 20 Oct 2017

President Lenín Moreno’s position on the razor's edge is evidenced by his contradictory and mild decision making on important political and economic issues. The new economic program launched recently by Ministry of Finance Carlos de la Torre is no exception. Moreno’s effort to maintain his lef...

Vice President Glass might go to jail
ECUADOR · In Brief · 02 Oct 2017

The Attorney General, Carlos Baca Mancheno, requested this morning that the National Court issue an order of "preventive prison" for Vice President Jorge Glass and his uncle Ricardo Rivera --both implied in cases of corruption, bribery and illicit association. The reason behind the prison request...

How Far Does Moreno Want To Go?
ECUADOR · Report · 25 Sep 2017

The ongoing animosity between President Lenin Moreno and former president Correa and the evident lack of support of a majority of legislators still loyal to Correa is a direct threat to the stability and success of this government. However, it has also opened an interest opportunity for More...

Vice President Jorge Glass Included in Criminal Case
ECUADOR · In Brief · 28 Aug 2017 · 1 response

Last Friday, the absolute majority of the Assemblywith absolute majority approved the inclusion of Vice-President Jorge Glass in a criminal case related to corruption during his office under President Correa's mandate. The figure is that of "illicit association" --somewhat of lower level compared...

Corruption and Political Crisis Threaten Economic Recovery
ECUADOR · Report · 11 Aug 2017 · 1 response

The internal crisis in the governing Alianza Pais has ballooned into a government and national political crisis that is threatening President Lenín Moreno’s already-difficult plan to lead Ecuador to economic recovery. The roots of the crisis are twofold. The first is ex-president Rafael Correa...

A SHAKY BUDGET
ECUADOR · In Brief · 29 Jul 2017

President Moreno referred to the status of the Ecuadorian economy as "critical" last Friday night when he presented a preliminary version of the Non-Financial Sector Budget for 2017. The assembly will be rest for two weeks and will review the budget after this period. According to the law, the Mi...

“No, The Table Wasn’t Set”
ECUADOR · Forecast · 24 Jul 2017 · 1 response

“No, the table wasn’t set.” That was President Lenín Moreno’s reply to former president Rafael Correa, who claimed he left the table “set for the new government” -- referring to a supposedly buoyant economic situation (assessed as such only by Correa and his loyal followers in Congress, and by so...

Will Correa Wait Four Years To Return?
ECUADOR · Report · 19 Jun 2017 · 1 response

President Lenín Boltaire Moreno is facing, and will continue to face, many challenges. Not all of them come from the outside. It took former president Rafael Correa less than a month to publicly air his disagreements with some of Moreno’s decisions, especially with his naming of a new anti-corr...

After Me, Comes the Flood
ECUADOR · Report · 19 May 2017 · 2 responses

In the past days the Assembly by mandate of President Correa cancelled all bilateral investment agreements with around 15 countries included China and the United States. The argument behind is that those agreements have brought more harm than benefits to Ecuador because of the biased ruling of i...

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