January 23, 2000 |
In a compromise that avoided a return to military rule, Ecuador's vice president took the helm of this Andean nation Saturday, ending a political crisis sparked by an alliance of indigenous protesters and junior officers. Gustavo Noboa became the troubled country's sixth president in four years after top-ranking officers, facing international pressure, refused to permit a civilian-military triumvirate that had announced it was taking power Friday.
January 22, 2000 |
Ecuador's long-simmering political and economic troubles boiled over into crisis Friday as the military demanded the resignation of President Jamil Mahuad and declared a three-person "government junta" in charge. Mahuad vowed that he would remain in office but then took refuge at an air force base with his government apparently having collapsed. Defense Minister Gen.
August 28, 1999 |
Ecuador's looming default on $6 billion in foreign debt has so far been shrugged off by neighboring Latin American markets. Unlike the faraway crises in Asia and Russia that caused havoc in Latin America, the placid reaction to Ecuador's likely default shows that investors have become more sophisticated about emerging markets, said Lacey Gallagher, Latin American ratings director at Standard & Poor's. "In and of itself, Ecuador's crisis is not a watershed of any kind," Gallagher said.
January 10, 1999 |
Latin Americans who yearn for days gone by would probably be cured by a visit to Ecuador, where the kinds of protectionist policies that its neighbors jettisoned long ago are still in force. What does Ecuador have to show for it? The worst economic crisis in 30 years, a banking system in a shambles and the highest inflation in the region. Its sobriquet--Latin America's economic basket case--seems right on the money for a nation facing overwhelming debts and deficits.
February 10, 1997 |
Vice President Rosalia Arteaga became interim president of Ecuador under a compromise reached Sunday to end a political crisis that saw three people claiming the right to lead this Andean nation. Under a formula worked out with Congress and the military, Arteaga will lead the nation for about a week while constitutional reforms are passed to clarify presidential succession. Her successor will serve until new presidential elections are held and the winner begins a four-year term Aug. 10, 1998.
February 9, 1997 |
The political crisis that gave Ecuador three competing presidents appeared to be nearing an end early today as the vice president, Congress and armed forces reached an agreement for a peaceful transition of power. Details of the agreement were not immediately available. But the consensus appeared to end elected President Abdala Bucaram's bid to stay in power.