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At the same time, inequalities, as measured by the Gini index, decreased from 0. Beginning in , President Rafael Correa established The Citizens' Revolution , a movement following left-wing policies, which some sources describe as populist. As the Ecuadorian economy began to decline in , Correa decided not to run for a fourth term [28] and by , protests occurred against Correa following the introduction of austerity measures and an increase of inheritance taxes.

In the weeks after his election, Moreno distanced himself from Correa's policies [33] and shifted the left-wing PAIS Alliance's away from the left-wing politics and towards the center.

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Due to increased borrowing by Correa's administration, which he had used to fund his welfare projects, as well as the s oil glut , public debt tripled in a five-year period and with Ecuador eventually coming to use of the Central Bank of Ecuador's reserves for funds.

These measures became known as "el paquetazo" and they included the end of fuel subsidies , removal of some import tariffs and cuts in public worker benefits and wages. On 8 October, President Moreno relocated his government to the coastal city of Guayaquil after anti-government protesters had overrun Quito, including the Carondelet Palace. Two more oil fields were captured by protesters shortly thereafter. Demonstrators also captured repeater antennas, forcing State TV and radio offline in parts of the country.

Indigenous protesters blocked most of Ecuador's main roads, completely cutting the transport routes to the city of Cuenca. Violent clashes erupted between demonstrators and police forces as the protests spread further. The government agreed to end the austerity measures at the center of the controversy and the protesters in turn agreed to end the two-week-long series of demonstrations. President Moreno agreed to withdraw Decree , an IMF-backed plan that caused a significant rise in fuel costs. From Wikipedia, the free encyclopedia. Part of a series on the. Colonial Ecuador. Viceroyalty of Peru Viceroyalty of New Granada.

War of Independence. Republic of Ecuador. Ecuador—Peru conflicts Military history Demographic history Economic history. Main article: Pre-Columbian Ecuador. See also: Indigenous peoples in Ecuador.

History of Ecuador

Valdivia culture. See also: Inca Empire. Main article: Spanish conquest of the Inca Empire.

See also: Royal Audience of Quito. Main article: Ecuadorian War of Independence. Main article: Gran Colombia. Further information: History of Ecuador — Further information: Military Governments of Ecuador — See also: Ecuador banking crisis. This section needs to be updated. Please update this article to reflect recent events or newly available information.

June This section does not cite any sources. Please help improve this section by adding citations to reliable sources. Unsourced material may be challenged and removed. July American Antiquity. Hanratty, editor. Library of Congress Federal Research Division This article incorporates text from this source which is in the public domain. Old America. Pre-Columbian civilizations.

Ecuador — Manna Project International

Barcelona, Circle of Readers, Latin American and Caribbean Ethnic Studies. A Country Study: Ecuador. Washington, D. The Last Days of the Incas. P Dippolito. New York: Simon and Schuster, World Socialist Web Site. Retrieved 14 October Moreno was the vice president and hand-picked successor of his predecessor Rafael Correa, who was first elected in after running as a self-proclaimed socialist on a populist program.

The turn towards austerity measures directed against the working class begun under Correa has been rapidly accelerated under Moreno, who has broken with and turned against the former president. Rafael Correa combines the populist with the technocrat in his persona. Self-described post-neoliberal experts occupy key positions in his admin-istration. The populist leader and technocrats share a view of society as an empty space where they can engineer entirely new institutions and practic-es. All existing institutional arrangements are thus consider to be corrupt, and in need of renewal.

Retrieved 12 October Correa, in power since , is part of a Latin American tradition of fire-breathing populist, leftist leaders. But in practice, Correa has used his populist zeal as a cover for his authoritarianism. Ecuador voters had other ideas". The Los Angeles Times. Their costly social programs, such as those supported by oil revenue in Venezuela, have been undercut by plunging prices of commodities that once made them feasible. PBS NewsHour. Archived from the original on 18 May Retrieved 11 October As Moreno, 64, pledged to build on the polarizing, populist policies of outgoing President Rafael Correa's decade-long "Citizens' Revolution," The Wall Street Journal.

Archived from the original on 11 October Archived from the original on Retrieved Foreign Affairs. Archived from the original on 14 October As China industrialized in the first decade of the century, its demand for raw materials rose, pushing up the prices of South American minerals, fuels, and oilseeds. Its loans have helped sustain leftist governments pursuing otherwise unsustainable policies in Argentina, Ecuador, and Venezuela, whose leaders welcomed Chinese aid as an alternative to the strict conditions imposed by the International Monetary Fund or the financial markets.

The Chinese-fueled commodity boom, which ended only recently, lifted Latin America to new heights. The region -and especially South America- enjoyed faster economic growth, a steep fall in poverty, a decline in extreme income inequality, and a swelling of the middle class. World Bank.

Government report

The Economist. Retrieved 9 October Carnegie Endowment for International Peace. Restoring checks and balances, moving to the center, and overcoming polarization have thus far not paid off politically. Ecuadorans who still admire Correa for helping the poor contend that the current president has betrayed the country. The New York Times. Retrieved 5 September Retrieved 28 June International Policy Digest. Associated Press.

Al Jazeera. Council on Hemispheric Affairs. Archived from the original on 26 July CBS News. BBC News. Retrieved 13 October BBC Mundo. Archived from the original on 10 October Bloomberg News. Archived from the original on 8 October Andrien, Kenneth.

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New York: Cambridge University Press Clayton, Lawrence A. Ohio University Press Gauderman, Kimberly. Austin: University of Texas Press Its stance has manifested in an all-inclusive approach, which brings both domestic stakeholders and foreign actors together to help achieve a broad based and sustainable agenda for the oil industry.

As aptly put by a GNPC executive:. The Ghana government truly wants the best out of this oil find for Ghanaians, this is why we are including local groups as well as foreign actors like the Norwegians in an effort to build a consensus on how to use the oil resources to enhance development…only time will tell, if the government adopted a right path. Although vehemently refuted by the Environmental Protection Agency EPA , this was directly linked to the increasing offshore oil exploration The Guardian , Relatedly, a group of local traditional rulers chiefs from the Western Region of Ghana have also raised an alarm about the effects of the oil drilling activities on the local fishing industry Ghanaweb , Such mobilisation pressures authorities and encourages accountability at different levels of governance.

This was the case in a impasse over the income disparities between the expatriate workers and local workers of oil firm Schlumberger Myjoyonline , This exemplifies the connections between transnational agenda and actions of local groups.

A monetary makeover for the country of Ecuador

In the following table, we summarise the comparison between the two countries. While Ecuador has a long history of oil extraction, Ghana is a newcomer to the industry. Ecuador is also highly dependent on its extractive processes for its budget, a level of dependence not yet reached in Ghana. Nonetheless, Ghana has currently included NGOs in its governance framework for extraction and is working to include local concerns within the Extractive Industries Transparency Initiative — a growing transnational initiative and one in which Ecuador does not participate.

This indicates a significant difference in policy outcomes and responses to social mobilisation between the two cases. Table 1: Comparing Ecuador and Ghana. Working relationship between the state and NGOs. Having defaulted on its bonds and, until recently, relinquishing its relationship with the World Bank and IMF, Ecuador sought funds from China to bolster the many new state-funded programmes.

This has avoided sole dependence on Chinese investment in its oil and extractive sectors, and diversified its markets. Additionally, these markets and economic arrangements mobilise and empower links between and among domestic and international actors to monitor and hold government accountable for the drilling and sustainable use or otherwise of oil resources.