Ecuador Basic Information

By | July 21, 2022
Basic data
Capital Quito
Population 17.8 million (2021)
Language Spanish
Religion Catholics (74%), Protestants (10.3%)
State system presidential republic
Head of State Guillermo Lasso
Head of government Francisco Jimenez
Currency name American dollar

Ecuador Basic Information

Travel
Time shift -6 hours (in summer -7 hours)
Economy 2021
Nominal GDP (billion USD) 208.8
Economic growth (%) 3.8
Inflation (%) 0.1
Unemployment (%) 4.8

2021 was an election year in Ecuador – presidential and parliamentary elections were held. Guillermo Lasso was elected as the new president, ending the long reign of left-wing populism. For the first time in history, a woman of Indian origin representing the party of the indigenous population, Guadalupe Llori, was elected Speaker of the Parliament. The new president has taken over an under-vaccinated and indebted country that will need even more loans to restart the economy. These will only be obtained if a number of reforms are introduced – among the first, the Act on Economic Development and Fiscal Sustainability was successfully passed. The new president kept his pre-election promise, inoculating over 9 million people in the first 100 days of government. Guillermo Lasso was at the same time, due to the deteriorating security situation and bloody clashes in prisons, forced to impose a state of emergency and will have to deal with the state of prisons in the country. The president will have to engage in dialogue with the indigenous population before taking a number of measures. G. Lasso managed to negotiate additional loans with international organizations and thus obtain the necessary finances for the functioning of the country. He started negotiations with China on changing the repayment of the debt, which is tied to the supply of oil. If successful, Ecuador could offer oil at more favorable prices for it on international markets.

This summary territorial information is processed for the country that is so-called accredited. The information is provided in an abbreviated form.

Basic information about the territory

Subchapters:

  • System of governance and political tendencies in the country
  • Foreign policy of the country
  • Population

The system of governance and political tendencies in the country

Official name of the country: Republic of Ecuador (República del Ecuador)

Ecuador is a presidential democracy.

President: Guillermo Lasso (in office since May 24, 2021)

Vice President: Alfredo Enrique Borrero Vega

The president is elected for 5 years with the possibility of 1 re-election.

The newly appointed government:

  • Prime Minister – Francisco Jiménez
  • Minister of Foreign Affairs – Juan Carlos Holguín Maldonado
  • Minister of Defense – Luis Lara Jaramillo
  • Minister of the Interior – Hernán Patricio Carrillo Rosero
  • Minister of Economy and Finance – Simón Cueva Armijos
  • Minister of Production, Foreign Trade and Fisheries – Julio José Prado Lucio-Paredes
  • Minister of Health – Ximena Garzón Villalba
  • Minister of Agriculture and Livestock – Bernardo Manzano Díaz
  • Minister of Energy and Non-Renewable Natural Resources – Xavier Vera Grunauer
  • Minister of Public Works and Transport – Marcelo Cabrera Palacios
  • Minister for Local Development and Housing – Darío Herrera Falcones
  • Minister of Environment and Water – Gustavo Manrique Miranda
  • Minister of Telecommunications and Information Society – Vianna Maino Isaías
  • Minister of Education – María Brown Pérez
  • Minister for Economic and Social Inclusion – Esteban Bernal
  • Minister of Labor – Patricio Donoso Chiriboga
  • Minister of Tourism – Niels Olsen Peet
  • Minister of Culture – María Elena Machuca Merino
  • Minister of Sports – Sebastián Palacios Muñoz
  • State Secretary of the Government – ​​Iván Correa Calderón
  • Secretary of State for Human Rights – Paola Flores Jaramillo
  • Secretary of State for Higher Education, Science, Technology and Innovation – Alejandro Ribadeneira Espinosa
  • State Secretary of Planifica Ecuador – Jairón Merchán Haz
  • Secretary of State for Press Affairs – Eduardo Bonilla Salcedo
  • State Secretary for Legal Affairs – Fabián Pozo Neira
  • Advisor to the President – ​​Aparicio Caicedo Castillo

Ecuador’s 137-member unicameral Asamblea Nacional parliament is fragmented both politically and numerically. The new MPs sat down on the benches for the first time on May 14 and represent parties and groups of the left, centre-left, center and centre-right, a total of 13 subjects. The representative of the second strongest Pachakutik party, Guadalupe Llori, was elected Speaker of the Parliament. It will be difficult for the new president to push through legislative changes in such a composed parliament. Former President Correa’s movement has the strongest position (32%). The Pachakutik indigenous people’s party is a big victory. Check diseaseslearning to learn more about Ecuador political system.

Foreign policy of the country

Ecuador has a long-term interest in strengthening cooperation with neighboring countries, including regional integration. In recent years, he has been trying to get closer to the West. The extradition of WikiLeaks founder Julian Assange eased relations with the US, leading to a meeting between the Ecuadorian and US presidents in February 2020 (the first high-level meeting in 20 years). Ecuador received financial aid for the integration of more than 400,000 Venezuelan refugees.

On February 2, 2022, the new Minister of Foreign Affairs took office. The main tasks for the nearest period are the following: concluding a free trade agreement with Mexico; joining the Pacific Alliance, which can significantly help improve the trade balance; deepening and establishing trade relations with other countries; creating conditions for the inflow of foreign investments; creating a background for the influx of tourists.

Every year, Ecuador and the EU implement a high-level Political Dialogue. Check themotorcyclers for Ecuador defense and foreign policy.

Economic relations are governed by the Trade Agreement between the EU and Ecuador.

Ecuador no longer qualifies as a recipient of development aid. Nevertheless, within the framework of the Multiannual Indicative Program 2014-2020, the EU provided development aid in the amount of EUR 67 million to the poorest regions.

Population

In 2021, the population reached 17.8 million, the population density is 5inhabitants/km2, which is the highest in Latin America. 50.04% of the population is female.

Largest cities: Guayaquil (million population), Quito ( million population), Cuenca, Santo Domingo, Machala.

Ethnic composition (2010): 71.9% mixed race (Caucasian with indigenous population), 7.8% Afro-Ecuadorian, 7.1% Native American, 7% Caucasian.

Religion: 74% Catholic, 10.3% Protestant.