Ecuador’s unhealthy dependence on China is about to get $1.5 billion worse – Quartz

August 28, 2014 • Ecuador News

These kinds of deals threaten president Rafael Correa’s reputation with Ecuadorean citizens—he has pledged to cut out private oil traders and middlemen from the country’s oil sector, but allowed a Chinese state firm and a private Hong Kong partner to control and sell as much two thirds of its oil. Activists are criticizing deals to trade drilling access in the Amazon for loans. Read more >>

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chevronecuadorEcuador’s unhealthy dependence on China is about to get $1.5 billion worse – Quartz

Ecuador’s Phony Bitcoin Ploy – Wall Street Journal

August 25, 2014 • Ecuador News

Few economic injustices are more villainous than stealing from the poor. Yet this is what a government does when it devalues its currency. Pope Francis has stressed the Christian obligation to share with the least of our brothers. Devaluation actually takes from them what they have earned themselves. And while the inflation tax that follows hits everybody, it wallops the low-income population the hardest. Read more >>

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chevronecuadorEcuador’s Phony Bitcoin Ploy – Wall Street Journal

Ecuador’s game with Assange and free speech – Deutsche Welle

August 20, 2014 • Ecuador News

The president has signed a new media law giving the state far-reaching rights to interfere in the work of journalists, a possible gateway to censorship. In Reporters Without Borders’ latest World Press Freedom Index, Ecuador is ranked 95 out of a total of 180 countries. Read more >>

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chevronecuadorEcuador’s game with Assange and free speech – Deutsche Welle

Argentina’s Default Is a Warning to Frothy Government Bond Markets – Wall Street Journal

August 4, 2014 • Ecuador News

Even when you leave the euro zone, where investors assume they are backstopped by an implied European Central Bank guarantee, you’ll find aggressive pricing of sovereign debt, including in high-risk “frontier” markets. In June, violence-wracked Kenya attracted $8 billion in bids for a $2 billion offering of five- and 10-year bonds, the latter selling at 6.85% yield, lower than Spain’s two years ago. Similarly sought-after deals were completed over the past year by Ecuador, Pakistan and Rwanda. Read more >>

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chevronecuadorArgentina’s Default Is a Warning to Frothy Government Bond Markets – Wall Street Journal

Latin America needs term limits. But how strict should they be? – The Economist

August 1, 2014 • Ecuador News

In country after country in Latin America, term limits have been loosened over the past two decades. The latest to seek to abolish them altogether is Ecuador’s president, Rafael Correa. He declared last year that his current term would be his final one, only for his supporters to unveil a bill in July allowing indefinite re-election for all public offices. Since Mr Correa commands a large legislative majority, Ecuador is likely to follow Venezuela and Nicaragua in allowing a presidency for life. Not coincidentally, these countries are among a handful in Latin America in which presidents now exercise near-absolute power. Mr Correa, the late Hugo Chávez in Venezuela and Nicaragua’s Daniel Ortega deployed their electoral majorities to crush the independence of the judiciary, curb the media and hamper opposition. Read more >>

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chevronecuadorLatin America needs term limits. But how strict should they be? – The Economist

Deforestation ramping up in Yasuni as Ecuador sets to open up national park to drilling – Mongabay

July 30, 2014 • Ecuador News

In 2005, the environmental ministry of Ecuador ruled that oil drilling in the park would only be allowed if no roads were built. However, in May 2014, a group of scientists argued that Petroamazonas, a huge oil firm in Ecuador, built a road into the park, violating an environmental impact study. Read more >>

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chevronecuadorDeforestation ramping up in Yasuni as Ecuador sets to open up national park to drilling – Mongabay