The crowded waiting room was getting hotter as more people came in. They all looked inpatient. Small talks helped them to kill time until it was their turn to see a member of the Ecuadorian Consulate.

Most of them were there to get a document called “poder.” Poder (power) is a document that authorizes and allows Ecuadorian living in the U.S. to manage their property in Ecuador. When the document is signed anybody can sell as well as buy more property in behalf of the person who signed the poder.

According to Maria Ines Costa Vargas, the vice-consul of Ecuador there are more people sending the “poderes” to Ecuador compared to last year. “People are scared and they want to have a plan B,” said Vargas. “Almost all the poderes are for buying and opening bank accounts in Ecuador.’

Ecuador is the seventh worst economy in the world, according to The Economist Intelligence Unit. The movement the Ecuadorians are doing buying property, opening bank accounts and transferring money from American banks to Ecuadorian banks could help lift the economy up.

Last year in February a total of 373 poders were sent compared to 623 poders this year in the same month. Vargas said that last year all the poders were mixed either to buy or just manage their property, but this year all of them are either to buy or open a bank account.

Ecuador’s economy went down when the price of the oil collapsed from 94 dollars a barrel to 32 dollars a barrel. And Ecuador has an economy highly pendent on oil production and public spending. “People stopped spending money because the prices for everything went up,” said Jose Alveres. Alvares is a U.S resident who was in Ecuador six months ago. He said that the economy could be better if Colombians and Peruvians who come to work in Ecuador spend in Ecuador rather than sending it to their countries.

The earthquake that happened in 2016 affected Ecuador’s economy greatly. Leaving over 3 million in damage and killing 660 people. The already hurt economy began to show in every corner as people stopped spending more and companies were laying off employees left to right.

The former president Rafael Correa borrowed 1.5 billion from China in order to bring the economy back, but in exchange China asked that a 90% of oil shipments should go for them for the next few years. “Basically, now we belong to China if we don’t pay that money back,” said Alvares.

However, the election for the new president keep Ecuadorian in a hope that the economy will improve. Also, the many Ecuadorian who live in the U.S are contributing to the Economy by sending their money, buying houses, buying property and building. “More money will be circulating with all of these movements,” said Vargas. “They are going to open their own business and create jobs.”