Ecuador Credit Talks Silent on Debts to History

Ecuador won approval to restructure about a third of its international bonds this week, alleviating part of the fiscal hangover from the Correa administration’s ruinous decade in power. But while Finance Minister Richard Martínez negotiates with the country’s creditors abroad, a deeper debate about the nation’s historical debts is still needed at home. Behind Ecuador’s… Read More Ecuador Credit Talks Silent on Debts to History

Dispatch from Quito: Coronavirus and La Cuarentena in Ecuador

(This article was originally published by the Institute for the Study of the Americas at The University of North Carolina at Chapel Hill.) I’ve watched the coronavirus crisis unfold from a quiet street in the suburbs of Quito, where I’m living with my family while on a research fellowship in Ecuador. After an early outbreak… Read More Dispatch from Quito: Coronavirus and La Cuarentena in Ecuador

Interwoven: Andean Lives in Colonial Ecuador’s Textile Economy: Corr

Corr, Rachel. Interwoven: Andean Lives in Colonial Ecuador’s Textile Economy. Tucson: The University of Arizona Press, 2018. Rachel Corr’s Interwoven: Andean Lives in Colonial Ecuador’s Textile Economy, looks at the social history of Pelileo and the San Ildefonso obraje in the Ecuadorian highlands from the perspectives of the indigenous families and enslaved people of African… Read More Interwoven: Andean Lives in Colonial Ecuador’s Textile Economy: Corr

Surveying the Field: Peasant Power in Andean History

Like many global hot spots of the twentieth century, the Andes is marked by its history of structural inequality, racial conflict, and legacies of poverty and violence. Tensions between urban and rural areas as well as between descendants of European and Andean ancestry still exist and remain a source of scholarly interest in the region.… Read More Surveying the Field: Peasant Power in Andean History

Between Two Worlds: Andean Haciendas in Colonial History

When historian James Lockhart published his renown article “Encomienda and Hacienda” in 1969, the modern historiography on haciendas was already more than forty-years-old.[1] Yet even after decades, historians were only beginning to understand these New World estates in terms of their origins and functions as colonial institutions. Early twentieth century scholars debated the extent of… Read More Between Two Worlds: Andean Haciendas in Colonial History

Land Reform, Historical Consciousness and Indigenous Activism: Huarcaya

Huarcaya, Sergio Miguel. “Land Reform, Historical Consciousness and Indigenous Activism in Late Twentieth-Century Ecuador.” Journal of Latin American Studies 50, no. 02 (May 2018): 411–40. Sergio Miguel Huarcaya’s article, “Land Reform, Historical Consciousness and Indigenous Activism in Late Twentieth-Century Ecuador,” explores how and why Ecuador’s indigenous movement embraced ethnic politics over class struggle after the… Read More Land Reform, Historical Consciousness and Indigenous Activism: Huarcaya

Correa, China y la Asamblea, afectados por el informe de la deuda

(Published originally in Mediato) El informe borrador –el cual aún no es concluyente– de la Contraloría sobre la deuda pública, presentado el 14 de marzo pasado, es un triunfo estratégico para el presidente Lenín Moreno. No solo permite responsabilizar al expresidente Rafael Correa del despilfarro fiscal, sino que Moreno también puede hacer corresponsable a la… Read More Correa, China y la Asamblea, afectados por el informe de la deuda

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… Read More Ecuador habló: La minería es peor que Correa

Communist Conspiracies and Imperial Plots in the Honduran General Strike

The historiography of the Honduras general strike of 1954 shows that the extent of communist influence and external Guatemalan involvement are still subjects of significant historical debate. Kevin Coleman’s A Camera in the Garden of Eden, which focuses on the self-forging of Honduran banana workers and their marginalized communities, is the latest addition to this… Read More Communist Conspiracies and Imperial Plots in the Honduran General Strike

Bailout Risk Grows for Ecuador After Worst Earthquake in Decades

By Nathan Gill April 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… Read More Bailout Risk Grows for Ecuador After Worst Earthquake in Decades

Latin America Oil Producers Call for Action to Improve Prices

By Nathan Gill and Andrew Willis April 8, 2016 (Bloomberg News) — Oil-producing countries must take the necessary steps to stabilize the global crude market in a bid to improve prices, Ecuador Foreign Minister Guillaume Long said on behalf of Latin American nations after a gathering in Quito. Waiting for the market to balance itself would… Read More Latin America Oil Producers Call for Action to Improve Prices

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

Correa’s Back-Track on Tax Bills Fails to Halt Ecuador Protests

By Nathan Gill (Bloomberg) — Ecuador President Rafael Correa’s attempt to defuse nationwide protests by back-tracking on two controversial tax proposals failed to prevent opposition supporters marching for a ninth straight day Tuesday. Protesters gathered in the capital city, Quito, less than 24 hours after Correa called for calm and announced he would delay plans… Read More Correa’s Back-Track on Tax Bills Fails to Halt Ecuador Protests

JPMorgan Says Not to Worry as Ecuador Promotes Digital Currency

By Nathan Gill (Bloomberg) — Ecuador’s home-grown digital currency is nothing to fear. At least that’s the conclusion of analysts from JPMorgan Chase & Co. to Credit Suisse Group AG and Nomura Securities International Inc. The country’s bonds fell last week after the government ordered banks to start accepting a new electronic tender it created… Read More JPMorgan Says Not to Worry as Ecuador Promotes Digital Currency

Ecuador Requiring Banks to Offer Electronic Currency Services

By Nathan Gill (Bloomberg) — Ecuador, which uses the U.S. dollar as its official currency, will require banks to offer services tied to a government-created electronic coin. Lenders with assets greater than $1 billion as of Dec. 31 have 120 days to fulfill the requirement, while smaller banks will get as long as a year,… Read More Ecuador Requiring Banks to Offer Electronic Currency Services

South America’s Commodity Rout Spurs Public Spending on Housing

By Nathan Gill (Bloomberg) — Enrique Perez, who’s been building homes for most of his life in Ecuador, is finally going to make one for himself. Perez is an unlikely beneficiary of the plunge in crude prices. That prompted Ecuador, an OPEC nation, to offer mortgage subsidies to people like Perez, a construction worker. Ecuador… Read More South America’s Commodity Rout Spurs Public Spending on Housing

Ecuador Approves New Labor Law With Changes to Public Pensions

By Nathan Gill (Bloomberg) — Ecuador’s congress approved changes to the Andean nation’s labor laws on Tuesday, including the removal of a government subsidy meant to cover almost half of state pensioners’ monthly payments. Lawmakers approved the measure proposed by President Rafael Correa in a 91-to-29 vote, while government supporters and political opposition groups looked… Read More Ecuador Approves New Labor Law With Changes to Public Pensions

GMO Settles With Ecuador Over Bonds That Defaulted in 2009

By Katia Porzecanski and Nathan Gill (Bloomberg) — Grantham, Mayo, Van Otterloo LLC, a Boston-based money manager, dismissed its lawsuit against Ecuador over debt the nation defaulted on six years ago. The parties agreed to dismiss the suit filed in December in Manhattan federal court, agreeing that each side would pay its own costs and… Read More GMO Settles With Ecuador Over Bonds That Defaulted in 2009

Ecuador GDP Growth Slowed in 2014 for Third Year on Oil Decline

By Nathan Gill     (Bloomberg) — The rate of growth in Ecuador, South America’s seventh biggest economy, slowed for a third year in 2014 as falling crude oil prices and a refinery shutdown offset gains from higher fishing and electricity output. Gross domestic product rose 3.8 percent in 2014 from a year earlier, less than the… Read More Ecuador GDP Growth Slowed in 2014 for Third Year on Oil Decline

Ecuador Discloses Loans From Wall Street, China as Oil Sinks

By Nathan Gill (Bloomberg) — Ecuador got $924 million in previously undisclosed loans from Deutsche Bank AG and other lenders, showing the extent of President Rafael Correa’s effort to line up a record amount of financing as oil prices plunge. The country took $181 million in two separate loans from units of Deutsche Bank and… Read More Ecuador Discloses Loans From Wall Street, China as Oil Sinks

Bondholder Love for Ecuador’s Correa Is Questioned: Andes Credit

By Nathan Gill (Bloomberg) — President Rafael Correa’s resourcefulness in the face of sinking oil prices has made Ecuador a favorite among emerging-market bond investors this year. To AllianceBernstein and Capital Economics, Correa needs to do more to ensure that the goodwill doesn’t prove fleeting. The nation’s debt securities returned 4.9 percent as Correa said… Read More Bondholder Love for Ecuador’s Correa Is Questioned: Andes Credit

Ecuador’s Dollar Reliance Worsens Impact of Oil, Correa Says

By Nathan Gill(Bloomberg) — President Rafael Correa, a former economics professor critical of Ecuador’s use of the dollar as its official currency, said the greenback is worsening the impact of falling crude prices as liquidity in the economy contracts. The reliance on the dollar means the government can’t print more money to increase the amount… Read More Ecuador’s Dollar Reliance Worsens Impact of Oil, Correa Says

China Rescues Ecuador Budget From Deeper Cuts as Crude Drops

(Originally published by Bloomberg News) By Nathan Gill            (Bloomberg) — Ecuador, an OPEC nation that relies on crude for about a quarter of revenue, obtained enough financing from China to avoid deeper budget cuts even as its oil price fell below $40 a barrel, Finance Minister Fausto Herrera said. The Latin American country expects total… Read More China Rescues Ecuador Budget From Deeper Cuts as Crude Drops

Ecuador Gains $5.3 Billion Credit Line From China as Oil Tumbles

By Nathan Gill (Bloomberg) — The Export-Import Bank of China granted Ecuador a $5.3 billion credit line after a slide in oil to an almost six-year low prompted spending cuts for the OPEC member. Finance Minister Fausto Herrera said in a statement published today in the president’s official gazette that the Andean nation will use… Read More Ecuador Gains $5.3 Billion Credit Line From China as Oil Tumbles