February 19, 2017 was a big day for Ecuadorians. More than 105, 238 Ecuadorians living in the United States went out to vote and support their country. Yet, the two leading president candidates did not get the 40 percent needed votes to win election.
What does this election mean for the well-being of Ecuadorians and the Ecuador’s economy? Refael Correa, the former president who ran the country from 2007 to January 15, 2017 led Ecuador to recession and high unemployment rate. The results of the elections shows that Ecuadorians want to continue the “Correism” meaning the majority voted for Lenin Moreno, who promised to continue Correa’s political view. Whereas, Guillermo Lasso wants to do more with less, cut taxes, create million jobs during his term and elevate Ecuador’s economy.
According to Correa the earthquake that happened in Abril, 2016 led Ecuador to damage its economy. Maybe that is partly true, but the economy was already bad way before that. For instance, the borrowing of 1.5 billion dollars from China brought more problems to Ecuador.
This feature on the Ecuador’s economy will be relevant to the world, especially to South and Central America countries because they have similar leaders who don’t care about their citizens.