Linkedin-in Youtube Facebook-f

LATIN AMERICA ADVISOR

LATIN AMERICA ADVISOR

A daily publication Of the dialogue

May 18, 2023

What Will Result From Ecuador’s Political Turmoil?

Ecuadorean President Guillermo Lasso, facing impeachment, on Wednesday dissolved the National Assembly in a move allowed by the constitution that also will end his term and require new presidential and legislative elections. // Photo: Ecuadorean Government.

Q

  • Ecuadorean President Guillermo Lasso on Wednesday triggered a constitutional measure to dissolve the National Assembly and rule by decree until new presidential and legislative elections are held. Lasso invoked the measure as lawmakers were preparing to vote on whether to remove him from office over embezzlement accusations, which he denies. The move marked a moment of heightened political turbulence in a country that has experienced rising violence and skyrocketing homicide rates amid increasingly powerful narco-trafficking groups fighting for territory. What are the implications of the development for the president, and for the country? What types of decrees is Lasso likely to issue? When can elections be expected, and what will come out of them? How will the political instability affect Ecuador’s economy and investment in the country?

A

Eileen Gavin, principal analyst for global markets and the Americas at Verisk Maplecroft: “Facing likely impeachment at the hands of the radical left-wing opposition allied to former president Rafael Correa (2007-2017), conservative President Guillermo Lasso reached for the ‘nuclear option’ of dissolving the National Assembly, thereby triggering a snap general election within six months to select a new government and legislature to complete the current term to May 2025. In the run-up, Lasso is authorized to rule using limited decree powers, and in theory he (along with the current crop of assembly deputies) can seek re-election. Following a strong performance for the left-wing Citizen Revolution (RC) party in local elections in February, our base case is that Correísmo is now set to return to power, barely two years after it was roundly rejected in 2021. There is no great yearning for the return of…”

Top News

Brazil Regulator Rejects Petrobras Drilling License
Brazil’s environmental regulator rejected a license for state oil company Petrobras to drill for oil near the mouth of the Amazon River, the agency’s president announced Wednesday.
Chile’s Congress Approves Higher Taxes for Miners
The lower chamber of Chile’s Congress on Wednesday approved a tax increase for mining companies.
Authorities Find Nine Migrants of Kidnapped Group of 50
Mexican authorities have found nine migrants of a group of 50 who were kidnapped earlier this week. President Andrés Manuel López Obrador said National Guard troops were conducting a search. // File Photo: Mexican Government.

Complete editions of the Latin America Advisor are delivered on a biweekly basis to members of the Dialogue’s Corporate Program and other subscribers. Sign up below for a free complimentary preview subscription.

Subscribe

ABOUT THE LATIN AMERICA ADVISOR

The Inter-American Dialogue publishes the Latin America Advisor every business day for a distinguished membership of informed corporate leaders, scholars, and government officials invested in Latin America’s development and future. The Advisor‘s highly regarded Q&A section covers questions submitted by subscribers themselves. Commentators regularly include heads of state, business leaders, diplomats, economists, analysts, and thought leaders from around the world. Many of the world’s largest and fastest-growing companies subscribe to the Advisor. To subscribe, click here. For terms and conditions, click here. For more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.
Energy Advisor
Financial Services Advisor

Subscribers

the-dialogue-subscribers7
the-dialogue-subscribers6
the-dialogue-subscribers5
the-dialogue-subscribers4
the-dialogue-subscribers3
the-dialogue-subscribers2
the-dialogue-subscribers1

Staff

Gene Kuleta
Editor
P. 202.463.2920
E. gkuleta@thedialogue.org

Carl David
Goette-Luciak
Reporter

Nili Blanck
Reporter

Subscribe

board of advisors

Diego Arria
Director,
Columbus Group

Merike Blofield
Professor of Political Science,
University of Hamburg

Devry Boughner Vorwerk
CEO,
DevryBV Sustainable Strategies

Joyce Chang
Global Head of Research,
J.P. Morgan

Marlene Fernández
Corporate Vice President for Gov’t Relations,
Arcos Dorados (McDonald’s)

Peter Hakim
President Emeritus,
Inter-American Dialogue

Donna Hrinak
Director,
Adtalem Global Education

Jon E. Huenemann
Council Member,
GLG Inc.

James R. Jones
Chairman,
Monarch Global Strategies

Craig Kelly
Senior Director,
Int’l Gov’t Relations,
Exxon Mobil

Barbara Kotschwar
Professor of Political Economy,
Georgetown University

John Maisto
Director,
US Education Finance Group

Nicolas Mariscal
Chairman,
Grupo Marhnos

Thomas F. McLarty III
Chairman,
McLarty Associates

Beatrice Rangel
Director,
AMLA Consulting

Ernesto Revilla
Head of Latin American Economics, Citi

Gustavo Roosen
President,
IESA

Andrés Rozental
President, Rozental &
Asociados

Shelly Shetty
Managing Director,
Sovereigns, Fitch

The Dialogue is a hemispheric organization that builds networks of cooperation and action to advance democratic resilience, shared prosperity, social inclusion, and sustainable development across the Americas. We impact policy debates, devise solutions, and enhance collaboration to unlock meaningful change in the Western Hemisphere.

Quick Links

Donate

Inter-American Dialogue
1155 15th Street NW | Suite 800
Washington, DC 20005
P: +1-202-822-9002
F: +1-202-822-9553

Preview Latin America Advisor
Linkedin-in Youtube Facebook-f

© 2024 Inter-American Dialogue

Subscribe To
Latin America Advisors

* indicates required field

The Inter-American Dialogue Education Program

SUBSCRIBE TO OUR NEWSLETTER / SUSCRÍBASE A NUESTRO BOLETÍN:

* indicates required

Part-Time: Reporter, Latin America Advisor