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United States v. Nilsen Arias Sandoval

By N. H. Gill(Oct. 25, 2022) — On Oct. 25, 2022, the U.S. Department of Justice unsealed a criminal indictment against Nilsen Arias Sandoval, a high-ranking official at Ecuador’s state-owned oil company, Petroecuador, for taking part in a widespread bribery and money laundering scheme during the administration of ex-Pres. Rafael Correa. Sandoval allegedly “accepted and…

Reserva Ecológica Antisana

The Reserva Ecológica Antisana, located in the Andean cordillera southeast of Quito, is one of the few remaining areas in the Ecuadorian highlands where relatively large populations of endemic plants and animals continue to thrive.

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Environmental News

Minería: del dicho al hecho

(Published originally in Mediato) La mina de oro y plata Río Blanco, atacada y quemada este mes por manifestantes de la comunidad, es emblemática en la industria minera ecuatoriana por todas las razones equivocadas. Haciendo caso omiso a la resistencia de las comunidades locales, del Municipio de Cuenca y de la provincia del Azuay, el gobierno…

Ecuador habló: La minería es peor que Correa

(Published originally in Mediato) El referéndum del 4 de febrero fue significativo. En su nivel más obvio, le dio al presidente Lenín Moreno una sólida victoria política y al expresidente Rafael Correa una derrota asombrosa. Pero más allá de las reacciones en Quito, los votantes en las zonas mineras de la Sierra y el Oriente…

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Political News

The Tablet of Disgrace

“esta es una placa de la ignominia, esta es una placa en donde consta y queda constancia para las futuras generaciones que los más altos personeros de un país cometieron…

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Economic News

Economic News

Greetings From Gringolandia

Bloomberg Businessweek, March 28 — April 3, 2016 Susan Lamy and her husband, Jean Pierre, owned a successful interior design business in Westport, Conn., but they still worried about how they would make ends meet in retirement. “Just paying for the basic necessities was killing us, and we could see that there was no way…

Bailout Risk Grows for Ecuador After Worst Earthquake in Decades

By Nathan GillApril 19, 2016 (Bloomberg) — Before a 7.8-magnitude earthquake struck Ecuador on Saturday, the South American nation’s finances were already in tatters as the government struggled to meet payments to municipal authorities, oil companies and even cancer hospitals. Cut off from global bond markets, President Rafael Correa must now find enough money to rehouse…

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Latin American Markets

Eight Defaults and 180 Years Later, Ecuador to Repay Bondholders

By Nathan GillNovember 18, 2015 (Bloomberg) — Ecuador is poised to do something it’s never done in its more than 180-year history: repay a bond.“What’s positive is that Ecuador has a new chance to honor, for the first time, the payment of its bonds,” said Santiago Mosquera, a former Fitch Ratings analyst who is now…

Venezuela Bonds Trapped by Oil’s New Normal as Relief Rally Ends

By Nathan Gill(Bloomberg) — This year’s climb in crude prices, however slight, brought relief to Venezuelan and Ecuadorean bondholders after last year’s crash decimated the oil producers’ revenue and prompted concern they were running short of cash.Now, the pessimism is back.While New York oil futures have surged 36 percent from a six-year low in March,…

Ecuador Cocoa Forecast Cut to 230,000 Tons After Rains Hit Crops

By Nathan Gill(Bloomberg) — Ecuador, the world’s biggest grower of flavored beans used in fine chocolate, will probably lose about 15 percent of this year’s cocoa crop after heavy rains hurt farms in the Andean nation’s coastal region, the National Cocoa Exporters Association said.Anecacao, as the association is known, reduced its 2015 forecast to about…

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Andean News

Quitoloma: Commanding Sites in Forgotten Places

Quitoloma is an Incan fortress on a hill above El Quinche, east of Quito. The site was part of what is known as the Pambamarca fortress complex, thought to be the largest pre-Colombian military site in the Americas.

Lenín Moreno Wins Ecuador Election with Correa Support

By N. H. GillOn April 2, 2017, Lenín Boltaire Moreno Garcés, a popular former vice-president, won Ecuador’s presidential elections with 51 percent of the vote, defeating Guillermo Lasso, an executive of the nation’s second-largest bank. Outgoing President Rafael Correa, in power since 2007, supported Moreno in an election campaign marred by irregularities.

Ecuador Quake Death Toll Rises as World Leaders Offer Support

By Benjamin Bain and Nathan Gill April 16, 2016 (Bloomberg) — World leaders from the Vatican to Washington offered support to Ecuador as casualties mounted following one of the strongest earthquakes to strike the South American country in decades. By Sunday evening, the number of dead had climbed to at least 246, from 77 earlier…

77-Year-Old Wall Street Favorite to Face Fujimori in Peru Runoff

By Nathan Gill and John QuigleyApril 12, 2016 (Bloomberg) — The victory by Pedro Pablo Kuczynski, a former finance minister, for second place in Sunday’s Peruvian president elections sets up a showdown between two business-friendly candidates, part of a regional backlash against left-wing politicians.Kuczynski, a 77-year-old Oxford-trained political economist who’s spent more than 50 years championing…

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