Earlier this week, Ecuador’s Oil Minister Carlos Perez announced that the country would no longer abide by its commitment to the Vienna Accord. That’s the OPEC-Russia deal to cut oil production and boost prices. Now, pundits have been quick to misinterpret that as the first splintering of OPEC on its oil price regimen. Actually, it may indicate far less than meets the eye. Now, the Vienna Accord took effect in January. Despite some questions about the equation between production on the one hand and exports on the other that agreement had held. It initially supported higher prices. Read more>>
The popular acceptance of Ecuadorian President Lenin Moreno rose in the past month, the company Perfiles de Opinion revealed on Sunday. The president currently has 84.86 percent of public acceptance, according to the results of a survey conducted by this firm in the urban areas of Guayaquil, Cuenca and this capital on July 1-4. According to the study published on www.eltelegrafo.com.ec and fully posted on the firm’s official website, about 73.74 percent of those polled in Quito assessed Moreno’s performance as good and only 1.8 described it as very bad. Read more>>
Ecuador’s new President, Lenín Moreno, is an unusual politician for more reasons than just his idiosyncratic first name. Moreno is a paraplegic who was shot during a robbery-gone-wrong in 1998. In the course of his convalescence, Moreno turned to laughter therapy, later setting up a foundation to encourage humor and joy. He is likely to need all his reserves of good humor in his new position as he takes responsibility for his country’s governance. Read more>>
The Prosecutor´s office steps on the accelerator in the Odebrecht case. This week will be intense with versions, links of prosecuted persons and audiences of substitution of measures. Wednesday, the accused of alleged illicit association Carlos Villamarín will give his testimony in Guayaquil. That same day, at 15:30, the measures issued against him and Ricardo Rivera, uncle of Vice President Jorge Glas, also investigated by illicit association, will be revised. Read more>>
Last week, former President of Ecuador Rafael Correa tweeted that he “left the table served” for President Lenin Moreno, meaning that the nation’s finances were in good condition and transparent. But that doesn’t actually seem to be the case. Whether Correa’s apparent lying is an attempt to cover up his shady dealings as President has not yet been confirmed, but it is clear that several major financial problems have come to light since he left, which will need to be addressed by the current administration. Read more>>
For Ecuadorean President Lenín Moreno, watching his mentor and predecessor Rafael Correa fly to Europe this week for an extended vacation likely wasn’t a sad farewell. After months of them standing side-by-side on the campaign trail, a schism has opened between the two leftist allies, with the bad blood spilling out into sniping over social media and threatening to hamstring their ruling political party. Correa was all smiles posing with Moreno after his former vice-president eked out a narrow run-off victory over a conservative opponent three months ago. Since then Correa has accused his political acolyte on Twitter of “disloyalty” and pursuing “mediocre” policies that would undermine his legacy. Read more>>
Ana Galarza is a new politician of the opposition and calls the shots of the government audit. One of the “hysterical women,” as described by Vice President Jorge Glas. Ana Galarza (CREO Party) talked about the Caminosca case.
Q: Will the Caminosca case be regarded as evidence against Jorge Glas?
A: The impeachment is focused on the oil sector. Caminosca was the auditing company for Odebrecht’s works in Ecuador. Cardno, the Australian company that bought Caminosca, hired an audit firm that determined accounting irregularities and inconsistencies in the balance sheets. Read more>>
Peru has recalled its ambassador to Ecuador amid an escalating dispute after Quito constructed a border wall less than a mile long. Ecuador built the 13-foot tall wall spanning 0.6 miles, on its side of the Zarumilla International Canal. The wall spans from Huaquillas in southern Ecuador to Aguas Verdes in Peru. While Quito says it built the wall as a precaution to prevent flooding, Lima argues the wall can disrupt the flow of water and could raise the risk of flooding on the Peruvian side. Read more>>
For Ecuadorean President Lenin Moreno, watching his mentor and predecessor Rafael Correa fly to Europe this week for an extended vacation likely wasn’t a sad farewell. After months of them standing side-by-side on the campaign trail, a schism has opened between the two leftist allies, with the bad blood spilling out into sniping over social media and threatening to hamstring their ruling political party. Correa was all smiles posing with Moreno after his former vice president eked out a narrow runoff victory over a conservative opponent three months ago. Read more>>
Former President Rafael Correa left Ecuador on Monday for his wife’s native Belgium, but not before voicing misgivings about some of the decisions made by successor Lenin Moreno since the transfer of power in May. “I am certain … that we defeated the opposition on April 2 (in the presidential runoff between Moreno and rightist Guillermo Lasso). I am not very certain about whether the Citizens Revolution won,” Correa told supporters at a rally near Quito’s international airport. Read more>>
The criminal complaint points to vice president Jorge Glas, legislator Esteban Albornoz and five other state officials. In the 10-page brief, it is noted that these people allegedly received USD 3.3 million in bribes from Caminosca. This company, established on May 13, 1976, supervised projects developed by the previous government, such as the construction of the Pascuales-Cuenca pipeline, the Toachi-Pilatón hydroelectric plant and the optimization of electricity generation in the Amazonian District. Read more>>
Ecuador’s vice-president, Jorge Glas, testified before the public prosecutor’s office regarding the Odebrecht corruption case. “Here clearly there has been an attempt to destroy peoples’ reputation, in order to affect an electoral process and that will have to be reviewed under the provisions of the Law of Communication,” said Glas, concluding his version of the case. As he exited, dozens of people waited for Glas to express their support to the vice president, who presented himself for the second time to make statements in the legal investigation. Read more>>