Analysis of information sources in references of the Wikipedia article "2019 Ecuadorian protests" in English language version.
Ecuador's cuts in fuel subsidies were among measures announced as part of a $4.2 billion funding plan with the International Monetary Fund, which says the funds will strengthen the economy and generate jobs. Indigenous groups condemn the deal with the IMF, saying austerity measures will deepen economic inequality. ... 'The big lesson is that it's very difficult to go from populism to a more orthodox economic policy,' Shifter said. He speculated that Moreno was not fully prepared for the ferocity of the reaction to the fuel price increases.
As populists do when the going gets tough, Mr Correa borrowed. Public debt tripled in five years and the government took to spending the central bank's reserves. ... Even as he talked about overcoming his country's dependence on oil, Mr Correa intensified it. ... Mr Correa's expansionary policies pushed up wages and inflation, making Ecuador's non-oil exporters uncompetitive. When the oil price fell sharply in 2014, Ecuador was hit hard. The economy entered recession and the fiscal deficit climbed to 8% of GDP in 2016. ... Mr Moreno has moved his country halfway away from populism. Completing the journey may be harder.
Ecuador's cuts in fuel subsidies were among measures announced as part of a $4.2 billion funding plan with the International Monetary Fund, which says the funds will strengthen the economy and generate jobs. Indigenous groups condemn the deal with the IMF, saying austerity measures will deepen economic inequality. ... 'The big lesson is that it's very difficult to go from populism to a more orthodox economic policy,' Shifter said. He speculated that Moreno was not fully prepared for the ferocity of the reaction to the fuel price increases.
Lenin Moreno, president since May 2017 from the Alliance PAIS party, has undone many of the populist policies and politics of his predecessor, Rafael Correa, whose decade-long rule resulted in severe economic problems, tensions with Washington, and alignment with the leftist regional group ALBA.• "Ecuador launches US$2.5bn 10-year bond at 8.875%". International Financing Review. Refinitiv. 18 October 2017. Retrieved 14 October 2019.
Investors shrugged off weak fundamentals and supply risks and instead focused on newly installed President Lenin Moreno's efforts to break with the populist policies of his predecessor. Moreno won the election in April promising to maintain the leftist programs of the former president Rafael Correa, who oversaw a selective default on dollar bonds in 2008. But since taking office, he has attacked Correa's economic policies and taken a more market-friendly approach• Cabrera, José María León; Krauss, Clifford (13 October 2019). "Deal Struck in Ecuador to Cancel Austerity Package and End Protests". The New York Times. Retrieved 14 October 2019.
Mr. Moreno was once Mr. Correa's vice president, and they were longtime allies. But Mr. Moreno broke from Mr. Correa, who is now living in exile in Belgium and has accused him of corruption. He has veered from Mr. Correa's populist economic policies in an attempt to attract more private investment, angering some of his leftist supporters in doing so. In his address Saturday, Mr. Moreno suggested that the fires at the national auditor's office were set to destroy evidence of corruption under Mr. Correa's government. Indigenous leaders said their followers were not responsible.• Kim, Hyun-min (12 October 2019). 포퓰리즘 금단현상이 빚어낸 에콰도르 시위. 아틀라스뉴스 (in Korean). Retrieved 17 October 2019.
10년 이상 정권을 잡는 과정에서 포퓰리스트 정책을 남발하며 재정적자를 키워 왔기 때문이다. 그 중심에 라파엘 코레아(Rafael Correa) 대통령이 있다. ... 하지만 2015년부터 국제유가가 폭락하면서 세수가 급감하고, 그의 포퓰리즘 정책에 한계를 드러내게 되었다. ... 코레아는 부유층을 대상으로 한 세금을 신설하고 상속세 납부 기준도 완화했으며. 예산삭감도 단행하며 재정적자를 메우려 했다 그럼에도 경기 침체는 지속되고 재정 적자는 악화되어 갔다. (This is because they have increased their budget deficit by abusing populist policies in the process of taking over the government for more than 10 years. At the center of it is the President, Rafael Correa. ... But as the oil price plunged since 2015, tax revenues plummeted, revealing the limitations of his populism policy. ... Correa set up taxes for the wealthy, eased inheritance tax payments, cuts budgets, and tried to fill the deficit. Nevertheless, the recession continued and the fiscal deficit worsened.)• "Ecuador's Government Crisis, Explained". The Washington Post. 9 October 2019. Archived from the original on 15 October 2019. Retrieved 14 October 2019.
Like many of its Latin American neighbors, Ecuador is vulnerable to swings in global commodity prices. ... The former president mixed populist largesse with propaganda and repression, raising public sector salaries and embarking on a string of ill-considered public work projects that drove the national debt load above the legal limit of 40% of gross domestic product. The $10.2 billion in loans Moreno has secured from the IMF, the World Bank and the Inter-American Development Bank were meant to soften the blow as he cut spending.• Oppenheimer, Andrés (3 March 2017). "Correa's 'economic miracle' in Ecuador was actually a monumental sham". The Miami Herald. Retrieved 14 October 2019.
Jose Hidalgo, director of Ecuador's CORDES economic research firm, says the biggest difference between the two countries is that while Peru has welcomed investments and saved for a rainy day, Correa's Ecuador went on a populist fiesta that left the country broke.
... if Moreno were seeking a second term, he would most likely not be reelected ... Restoring checks and balances, moving to the center, and overcoming polarization have thus far not paid off politically. Ecuadorans who still admire Correa for helping the poor contend that the current president has betrayed the country. ... Moreno's reversal of Correa's populist authoritarian tendencies was not the result of a popular decision to end Correa's political project.
As populists do when the going gets tough, Mr Correa borrowed. Public debt tripled in five years and the government took to spending the central bank's reserves. ... Even as he talked about overcoming his country's dependence on oil, Mr Correa intensified it. ... Mr Correa's expansionary policies pushed up wages and inflation, making Ecuador's non-oil exporters uncompetitive. When the oil price fell sharply in 2014, Ecuador was hit hard. The economy entered recession and the fiscal deficit climbed to 8% of GDP in 2016. ... Mr Moreno has moved his country halfway away from populism. Completing the journey may be harder.
As China industrialized in the first decade of the century, its demand for raw materials rose, pushing up the prices of South American minerals, fuels, and oilseeds. From 2000 to 2013, Chinese trade with Latin America rocketed from $12 billion to over $275 billion. ... Its loans have helped sustain leftist governments pursuing otherwise unsustainable policies in Argentina, Ecuador, and Venezuela, whose leaders welcomed Chinese aid as an alternative to the strict conditions imposed by the International Monetary Fund or the financial markets. ... The Chinese-fueled commodity boom, which ended only recently, lifted Latin America to new heights. The region -and especially South America- enjoyed faster economic growth, a steep fall in poverty, a decline in extreme income inequality, and a swelling of the middle class.
Lenin Moreno, president since May 2017 from the Alliance PAIS party, has undone many of the populist policies and politics of his predecessor, Rafael Correa, whose decade-long rule resulted in severe economic problems, tensions with Washington, and alignment with the leftist regional group ALBA.• "Ecuador launches US$2.5bn 10-year bond at 8.875%". International Financing Review. Refinitiv. 18 October 2017. Retrieved 14 October 2019.
Investors shrugged off weak fundamentals and supply risks and instead focused on newly installed President Lenin Moreno's efforts to break with the populist policies of his predecessor. Moreno won the election in April promising to maintain the leftist programs of the former president Rafael Correa, who oversaw a selective default on dollar bonds in 2008. But since taking office, he has attacked Correa's economic policies and taken a more market-friendly approach• Cabrera, José María León; Krauss, Clifford (13 October 2019). "Deal Struck in Ecuador to Cancel Austerity Package and End Protests". The New York Times. Retrieved 14 October 2019.
Mr. Moreno was once Mr. Correa's vice president, and they were longtime allies. But Mr. Moreno broke from Mr. Correa, who is now living in exile in Belgium and has accused him of corruption. He has veered from Mr. Correa's populist economic policies in an attempt to attract more private investment, angering some of his leftist supporters in doing so. In his address Saturday, Mr. Moreno suggested that the fires at the national auditor's office were set to destroy evidence of corruption under Mr. Correa's government. Indigenous leaders said their followers were not responsible.• Kim, Hyun-min (12 October 2019). 포퓰리즘 금단현상이 빚어낸 에콰도르 시위. 아틀라스뉴스 (in Korean). Retrieved 17 October 2019.
10년 이상 정권을 잡는 과정에서 포퓰리스트 정책을 남발하며 재정적자를 키워 왔기 때문이다. 그 중심에 라파엘 코레아(Rafael Correa) 대통령이 있다. ... 하지만 2015년부터 국제유가가 폭락하면서 세수가 급감하고, 그의 포퓰리즘 정책에 한계를 드러내게 되었다. ... 코레아는 부유층을 대상으로 한 세금을 신설하고 상속세 납부 기준도 완화했으며. 예산삭감도 단행하며 재정적자를 메우려 했다 그럼에도 경기 침체는 지속되고 재정 적자는 악화되어 갔다. (This is because they have increased their budget deficit by abusing populist policies in the process of taking over the government for more than 10 years. At the center of it is the President, Rafael Correa. ... But as the oil price plunged since 2015, tax revenues plummeted, revealing the limitations of his populism policy. ... Correa set up taxes for the wealthy, eased inheritance tax payments, cuts budgets, and tried to fill the deficit. Nevertheless, the recession continued and the fiscal deficit worsened.)• "Ecuador's Government Crisis, Explained". The Washington Post. 9 October 2019. Archived from the original on 15 October 2019. Retrieved 14 October 2019.
Like many of its Latin American neighbors, Ecuador is vulnerable to swings in global commodity prices. ... The former president mixed populist largesse with propaganda and repression, raising public sector salaries and embarking on a string of ill-considered public work projects that drove the national debt load above the legal limit of 40% of gross domestic product. The $10.2 billion in loans Moreno has secured from the IMF, the World Bank and the Inter-American Development Bank were meant to soften the blow as he cut spending.• Oppenheimer, Andrés (3 March 2017). "Correa's 'economic miracle' in Ecuador was actually a monumental sham". The Miami Herald. Retrieved 14 October 2019.
Jose Hidalgo, director of Ecuador's CORDES economic research firm, says the biggest difference between the two countries is that while Peru has welcomed investments and saved for a rainy day, Correa's Ecuador went on a populist fiesta that left the country broke.
Rafael Correa combines the populist with the technocrat in his persona. Self-described post-neoliberal experts occupy key positions in his admin-istration. ... The populist leader and technocrats share a view of society as an empty space where they can engineer entirely new institutions and practic-es. All existing institutional arrangements are thus consider to be corrupt, and in need of renewal.
Correa, in power since 2007, is part of a Latin American tradition of fire-breathing populist, leftist leaders. ... But in practice, Correa has used his populist zeal as a cover for his authoritarianism.
Correa's reversal of fortune resembles the falls taken by other populist Latin American leaders in recent elections. Their costly social programs, such as those supported by oil revenue in Venezuela, have been undercut by plunging prices of commodities that once made them feasible.
Lenin Moreno, president since May 2017 from the Alliance PAIS party, has undone many of the populist policies and politics of his predecessor, Rafael Correa, whose decade-long rule resulted in severe economic problems, tensions with Washington, and alignment with the leftist regional group ALBA.• "Ecuador launches US$2.5bn 10-year bond at 8.875%". International Financing Review. Refinitiv. 18 October 2017. Retrieved 14 October 2019.
Investors shrugged off weak fundamentals and supply risks and instead focused on newly installed President Lenin Moreno's efforts to break with the populist policies of his predecessor. Moreno won the election in April promising to maintain the leftist programs of the former president Rafael Correa, who oversaw a selective default on dollar bonds in 2008. But since taking office, he has attacked Correa's economic policies and taken a more market-friendly approach• Cabrera, José María León; Krauss, Clifford (13 October 2019). "Deal Struck in Ecuador to Cancel Austerity Package and End Protests". The New York Times. Retrieved 14 October 2019.
Mr. Moreno was once Mr. Correa's vice president, and they were longtime allies. But Mr. Moreno broke from Mr. Correa, who is now living in exile in Belgium and has accused him of corruption. He has veered from Mr. Correa's populist economic policies in an attempt to attract more private investment, angering some of his leftist supporters in doing so. In his address Saturday, Mr. Moreno suggested that the fires at the national auditor's office were set to destroy evidence of corruption under Mr. Correa's government. Indigenous leaders said their followers were not responsible.• Kim, Hyun-min (12 October 2019). 포퓰리즘 금단현상이 빚어낸 에콰도르 시위. 아틀라스뉴스 (in Korean). Retrieved 17 October 2019.
10년 이상 정권을 잡는 과정에서 포퓰리스트 정책을 남발하며 재정적자를 키워 왔기 때문이다. 그 중심에 라파엘 코레아(Rafael Correa) 대통령이 있다. ... 하지만 2015년부터 국제유가가 폭락하면서 세수가 급감하고, 그의 포퓰리즘 정책에 한계를 드러내게 되었다. ... 코레아는 부유층을 대상으로 한 세금을 신설하고 상속세 납부 기준도 완화했으며. 예산삭감도 단행하며 재정적자를 메우려 했다 그럼에도 경기 침체는 지속되고 재정 적자는 악화되어 갔다. (This is because they have increased their budget deficit by abusing populist policies in the process of taking over the government for more than 10 years. At the center of it is the President, Rafael Correa. ... But as the oil price plunged since 2015, tax revenues plummeted, revealing the limitations of his populism policy. ... Correa set up taxes for the wealthy, eased inheritance tax payments, cuts budgets, and tried to fill the deficit. Nevertheless, the recession continued and the fiscal deficit worsened.)• "Ecuador's Government Crisis, Explained". The Washington Post. 9 October 2019. Archived from the original on 15 October 2019. Retrieved 14 October 2019.
Like many of its Latin American neighbors, Ecuador is vulnerable to swings in global commodity prices. ... The former president mixed populist largesse with propaganda and repression, raising public sector salaries and embarking on a string of ill-considered public work projects that drove the national debt load above the legal limit of 40% of gross domestic product. The $10.2 billion in loans Moreno has secured from the IMF, the World Bank and the Inter-American Development Bank were meant to soften the blow as he cut spending.• Oppenheimer, Andrés (3 March 2017). "Correa's 'economic miracle' in Ecuador was actually a monumental sham". The Miami Herald. Retrieved 14 October 2019.
Jose Hidalgo, director of Ecuador's CORDES economic research firm, says the biggest difference between the two countries is that while Peru has welcomed investments and saved for a rainy day, Correa's Ecuador went on a populist fiesta that left the country broke.
Lenin Moreno, president since May 2017 from the Alliance PAIS party, has undone many of the populist policies and politics of his predecessor, Rafael Correa, whose decade-long rule resulted in severe economic problems, tensions with Washington, and alignment with the leftist regional group ALBA.• "Ecuador launches US$2.5bn 10-year bond at 8.875%". International Financing Review. Refinitiv. 18 October 2017. Retrieved 14 October 2019.
Investors shrugged off weak fundamentals and supply risks and instead focused on newly installed President Lenin Moreno's efforts to break with the populist policies of his predecessor. Moreno won the election in April promising to maintain the leftist programs of the former president Rafael Correa, who oversaw a selective default on dollar bonds in 2008. But since taking office, he has attacked Correa's economic policies and taken a more market-friendly approach• Cabrera, José María León; Krauss, Clifford (13 October 2019). "Deal Struck in Ecuador to Cancel Austerity Package and End Protests". The New York Times. Retrieved 14 October 2019.
Mr. Moreno was once Mr. Correa's vice president, and they were longtime allies. But Mr. Moreno broke from Mr. Correa, who is now living in exile in Belgium and has accused him of corruption. He has veered from Mr. Correa's populist economic policies in an attempt to attract more private investment, angering some of his leftist supporters in doing so. In his address Saturday, Mr. Moreno suggested that the fires at the national auditor's office were set to destroy evidence of corruption under Mr. Correa's government. Indigenous leaders said their followers were not responsible.• Kim, Hyun-min (12 October 2019). 포퓰리즘 금단현상이 빚어낸 에콰도르 시위. 아틀라스뉴스 (in Korean). Retrieved 17 October 2019.
10년 이상 정권을 잡는 과정에서 포퓰리스트 정책을 남발하며 재정적자를 키워 왔기 때문이다. 그 중심에 라파엘 코레아(Rafael Correa) 대통령이 있다. ... 하지만 2015년부터 국제유가가 폭락하면서 세수가 급감하고, 그의 포퓰리즘 정책에 한계를 드러내게 되었다. ... 코레아는 부유층을 대상으로 한 세금을 신설하고 상속세 납부 기준도 완화했으며. 예산삭감도 단행하며 재정적자를 메우려 했다 그럼에도 경기 침체는 지속되고 재정 적자는 악화되어 갔다. (This is because they have increased their budget deficit by abusing populist policies in the process of taking over the government for more than 10 years. At the center of it is the President, Rafael Correa. ... But as the oil price plunged since 2015, tax revenues plummeted, revealing the limitations of his populism policy. ... Correa set up taxes for the wealthy, eased inheritance tax payments, cuts budgets, and tried to fill the deficit. Nevertheless, the recession continued and the fiscal deficit worsened.)• "Ecuador's Government Crisis, Explained". The Washington Post. 9 October 2019. Archived from the original on 15 October 2019. Retrieved 14 October 2019.
Like many of its Latin American neighbors, Ecuador is vulnerable to swings in global commodity prices. ... The former president mixed populist largesse with propaganda and repression, raising public sector salaries and embarking on a string of ill-considered public work projects that drove the national debt load above the legal limit of 40% of gross domestic product. The $10.2 billion in loans Moreno has secured from the IMF, the World Bank and the Inter-American Development Bank were meant to soften the blow as he cut spending.• Oppenheimer, Andrés (3 March 2017). "Correa's 'economic miracle' in Ecuador was actually a monumental sham". The Miami Herald. Retrieved 14 October 2019.
Jose Hidalgo, director of Ecuador's CORDES economic research firm, says the biggest difference between the two countries is that while Peru has welcomed investments and saved for a rainy day, Correa's Ecuador went on a populist fiesta that left the country broke.
As Moreno, 64, pledged to build on the polarizing, populist policies of outgoing President Rafael Correa's decade-long "Citizens' Revolution," ...
Lenin Moreno, president since May 2017 from the Alliance PAIS party, has undone many of the populist policies and politics of his predecessor, Rafael Correa, whose decade-long rule resulted in severe economic problems, tensions with Washington, and alignment with the leftist regional group ALBA.• "Ecuador launches US$2.5bn 10-year bond at 8.875%". International Financing Review. Refinitiv. 18 October 2017. Retrieved 14 October 2019.
Investors shrugged off weak fundamentals and supply risks and instead focused on newly installed President Lenin Moreno's efforts to break with the populist policies of his predecessor. Moreno won the election in April promising to maintain the leftist programs of the former president Rafael Correa, who oversaw a selective default on dollar bonds in 2008. But since taking office, he has attacked Correa's economic policies and taken a more market-friendly approach• Cabrera, José María León; Krauss, Clifford (13 October 2019). "Deal Struck in Ecuador to Cancel Austerity Package and End Protests". The New York Times. Retrieved 14 October 2019.
Mr. Moreno was once Mr. Correa's vice president, and they were longtime allies. But Mr. Moreno broke from Mr. Correa, who is now living in exile in Belgium and has accused him of corruption. He has veered from Mr. Correa's populist economic policies in an attempt to attract more private investment, angering some of his leftist supporters in doing so. In his address Saturday, Mr. Moreno suggested that the fires at the national auditor's office were set to destroy evidence of corruption under Mr. Correa's government. Indigenous leaders said their followers were not responsible.• Kim, Hyun-min (12 October 2019). 포퓰리즘 금단현상이 빚어낸 에콰도르 시위. 아틀라스뉴스 (in Korean). Retrieved 17 October 2019.
10년 이상 정권을 잡는 과정에서 포퓰리스트 정책을 남발하며 재정적자를 키워 왔기 때문이다. 그 중심에 라파엘 코레아(Rafael Correa) 대통령이 있다. ... 하지만 2015년부터 국제유가가 폭락하면서 세수가 급감하고, 그의 포퓰리즘 정책에 한계를 드러내게 되었다. ... 코레아는 부유층을 대상으로 한 세금을 신설하고 상속세 납부 기준도 완화했으며. 예산삭감도 단행하며 재정적자를 메우려 했다 그럼에도 경기 침체는 지속되고 재정 적자는 악화되어 갔다. (This is because they have increased their budget deficit by abusing populist policies in the process of taking over the government for more than 10 years. At the center of it is the President, Rafael Correa. ... But as the oil price plunged since 2015, tax revenues plummeted, revealing the limitations of his populism policy. ... Correa set up taxes for the wealthy, eased inheritance tax payments, cuts budgets, and tried to fill the deficit. Nevertheless, the recession continued and the fiscal deficit worsened.)• "Ecuador's Government Crisis, Explained". The Washington Post. 9 October 2019. Archived from the original on 15 October 2019. Retrieved 14 October 2019.
Like many of its Latin American neighbors, Ecuador is vulnerable to swings in global commodity prices. ... The former president mixed populist largesse with propaganda and repression, raising public sector salaries and embarking on a string of ill-considered public work projects that drove the national debt load above the legal limit of 40% of gross domestic product. The $10.2 billion in loans Moreno has secured from the IMF, the World Bank and the Inter-American Development Bank were meant to soften the blow as he cut spending.• Oppenheimer, Andrés (3 March 2017). "Correa's 'economic miracle' in Ecuador was actually a monumental sham". The Miami Herald. Retrieved 14 October 2019.
Jose Hidalgo, director of Ecuador's CORDES economic research firm, says the biggest difference between the two countries is that while Peru has welcomed investments and saved for a rainy day, Correa's Ecuador went on a populist fiesta that left the country broke.
Rafael Correa combines the populist with the technocrat in his persona. Self-described post-neoliberal experts occupy key positions in his admin-istration. ... The populist leader and technocrats share a view of society as an empty space where they can engineer entirely new institutions and practic-es. All existing institutional arrangements are thus consider to be corrupt, and in need of renewal.
Correa, in power since 2007, is part of a Latin American tradition of fire-breathing populist, leftist leaders. ... But in practice, Correa has used his populist zeal as a cover for his authoritarianism.
Correa's reversal of fortune resembles the falls taken by other populist Latin American leaders in recent elections. Their costly social programs, such as those supported by oil revenue in Venezuela, have been undercut by plunging prices of commodities that once made them feasible.
Lenin Moreno, president since May 2017 from the Alliance PAIS party, has undone many of the populist policies and politics of his predecessor, Rafael Correa, whose decade-long rule resulted in severe economic problems, tensions with Washington, and alignment with the leftist regional group ALBA.• "Ecuador launches US$2.5bn 10-year bond at 8.875%". International Financing Review. Refinitiv. 18 October 2017. Retrieved 14 October 2019.
Investors shrugged off weak fundamentals and supply risks and instead focused on newly installed President Lenin Moreno's efforts to break with the populist policies of his predecessor. Moreno won the election in April promising to maintain the leftist programs of the former president Rafael Correa, who oversaw a selective default on dollar bonds in 2008. But since taking office, he has attacked Correa's economic policies and taken a more market-friendly approach• Cabrera, José María León; Krauss, Clifford (13 October 2019). "Deal Struck in Ecuador to Cancel Austerity Package and End Protests". The New York Times. Retrieved 14 October 2019.
Mr. Moreno was once Mr. Correa's vice president, and they were longtime allies. But Mr. Moreno broke from Mr. Correa, who is now living in exile in Belgium and has accused him of corruption. He has veered from Mr. Correa's populist economic policies in an attempt to attract more private investment, angering some of his leftist supporters in doing so. In his address Saturday, Mr. Moreno suggested that the fires at the national auditor's office were set to destroy evidence of corruption under Mr. Correa's government. Indigenous leaders said their followers were not responsible.• Kim, Hyun-min (12 October 2019). 포퓰리즘 금단현상이 빚어낸 에콰도르 시위. 아틀라스뉴스 (in Korean). Retrieved 17 October 2019.
10년 이상 정권을 잡는 과정에서 포퓰리스트 정책을 남발하며 재정적자를 키워 왔기 때문이다. 그 중심에 라파엘 코레아(Rafael Correa) 대통령이 있다. ... 하지만 2015년부터 국제유가가 폭락하면서 세수가 급감하고, 그의 포퓰리즘 정책에 한계를 드러내게 되었다. ... 코레아는 부유층을 대상으로 한 세금을 신설하고 상속세 납부 기준도 완화했으며. 예산삭감도 단행하며 재정적자를 메우려 했다 그럼에도 경기 침체는 지속되고 재정 적자는 악화되어 갔다. (This is because they have increased their budget deficit by abusing populist policies in the process of taking over the government for more than 10 years. At the center of it is the President, Rafael Correa. ... But as the oil price plunged since 2015, tax revenues plummeted, revealing the limitations of his populism policy. ... Correa set up taxes for the wealthy, eased inheritance tax payments, cuts budgets, and tried to fill the deficit. Nevertheless, the recession continued and the fiscal deficit worsened.)• "Ecuador's Government Crisis, Explained". The Washington Post. 9 October 2019. Archived from the original on 15 October 2019. Retrieved 14 October 2019.
Like many of its Latin American neighbors, Ecuador is vulnerable to swings in global commodity prices. ... The former president mixed populist largesse with propaganda and repression, raising public sector salaries and embarking on a string of ill-considered public work projects that drove the national debt load above the legal limit of 40% of gross domestic product. The $10.2 billion in loans Moreno has secured from the IMF, the World Bank and the Inter-American Development Bank were meant to soften the blow as he cut spending.• Oppenheimer, Andrés (3 March 2017). "Correa's 'economic miracle' in Ecuador was actually a monumental sham". The Miami Herald. Retrieved 14 October 2019.
Jose Hidalgo, director of Ecuador's CORDES economic research firm, says the biggest difference between the two countries is that while Peru has welcomed investments and saved for a rainy day, Correa's Ecuador went on a populist fiesta that left the country broke.
As Moreno, 64, pledged to build on the polarizing, populist policies of outgoing President Rafael Correa's decade-long "Citizens' Revolution," ...
... if Moreno were seeking a second term, he would most likely not be reelected ... Restoring checks and balances, moving to the center, and overcoming polarization have thus far not paid off politically. Ecuadorans who still admire Correa for helping the poor contend that the current president has betrayed the country. ... Moreno's reversal of Correa's populist authoritarian tendencies was not the result of a popular decision to end Correa's political project.
Lenin Moreno, president since May 2017 from the Alliance PAIS party, has undone many of the populist policies and politics of his predecessor, Rafael Correa, whose decade-long rule resulted in severe economic problems, tensions with Washington, and alignment with the leftist regional group ALBA.• "Ecuador launches US$2.5bn 10-year bond at 8.875%". International Financing Review. Refinitiv. 18 October 2017. Retrieved 14 October 2019.
Investors shrugged off weak fundamentals and supply risks and instead focused on newly installed President Lenin Moreno's efforts to break with the populist policies of his predecessor. Moreno won the election in April promising to maintain the leftist programs of the former president Rafael Correa, who oversaw a selective default on dollar bonds in 2008. But since taking office, he has attacked Correa's economic policies and taken a more market-friendly approach• Cabrera, José María León; Krauss, Clifford (13 October 2019). "Deal Struck in Ecuador to Cancel Austerity Package and End Protests". The New York Times. Retrieved 14 October 2019.
Mr. Moreno was once Mr. Correa's vice president, and they were longtime allies. But Mr. Moreno broke from Mr. Correa, who is now living in exile in Belgium and has accused him of corruption. He has veered from Mr. Correa's populist economic policies in an attempt to attract more private investment, angering some of his leftist supporters in doing so. In his address Saturday, Mr. Moreno suggested that the fires at the national auditor's office were set to destroy evidence of corruption under Mr. Correa's government. Indigenous leaders said their followers were not responsible.• Kim, Hyun-min (12 October 2019). 포퓰리즘 금단현상이 빚어낸 에콰도르 시위. 아틀라스뉴스 (in Korean). Retrieved 17 October 2019.
10년 이상 정권을 잡는 과정에서 포퓰리스트 정책을 남발하며 재정적자를 키워 왔기 때문이다. 그 중심에 라파엘 코레아(Rafael Correa) 대통령이 있다. ... 하지만 2015년부터 국제유가가 폭락하면서 세수가 급감하고, 그의 포퓰리즘 정책에 한계를 드러내게 되었다. ... 코레아는 부유층을 대상으로 한 세금을 신설하고 상속세 납부 기준도 완화했으며. 예산삭감도 단행하며 재정적자를 메우려 했다 그럼에도 경기 침체는 지속되고 재정 적자는 악화되어 갔다. (This is because they have increased their budget deficit by abusing populist policies in the process of taking over the government for more than 10 years. At the center of it is the President, Rafael Correa. ... But as the oil price plunged since 2015, tax revenues plummeted, revealing the limitations of his populism policy. ... Correa set up taxes for the wealthy, eased inheritance tax payments, cuts budgets, and tried to fill the deficit. Nevertheless, the recession continued and the fiscal deficit worsened.)• "Ecuador's Government Crisis, Explained". The Washington Post. 9 October 2019. Archived from the original on 15 October 2019. Retrieved 14 October 2019.
Like many of its Latin American neighbors, Ecuador is vulnerable to swings in global commodity prices. ... The former president mixed populist largesse with propaganda and repression, raising public sector salaries and embarking on a string of ill-considered public work projects that drove the national debt load above the legal limit of 40% of gross domestic product. The $10.2 billion in loans Moreno has secured from the IMF, the World Bank and the Inter-American Development Bank were meant to soften the blow as he cut spending.• Oppenheimer, Andrés (3 March 2017). "Correa's 'economic miracle' in Ecuador was actually a monumental sham". The Miami Herald. Retrieved 14 October 2019.
Jose Hidalgo, director of Ecuador's CORDES economic research firm, says the biggest difference between the two countries is that while Peru has welcomed investments and saved for a rainy day, Correa's Ecuador went on a populist fiesta that left the country broke.
As populists do when the going gets tough, Mr Correa borrowed. Public debt tripled in five years and the government took to spending the central bank's reserves. ... Even as he talked about overcoming his country's dependence on oil, Mr Correa intensified it. ... Mr Correa's expansionary policies pushed up wages and inflation, making Ecuador's non-oil exporters uncompetitive. When the oil price fell sharply in 2014, Ecuador was hit hard. The economy entered recession and the fiscal deficit climbed to 8% of GDP in 2016. ... Mr Moreno has moved his country halfway away from populism. Completing the journey may be harder.
Moreno was the vice president and hand-picked successor of his predecessor Rafael Correa, who was first elected in 2007 after running as a self-proclaimed socialist on a populist program. The government's reformist promises, made during the commodities boom, ran into the realities of falling oil prices and the deceleration of the Chinese economy. The turn towards austerity measures directed against the working class begun under Correa has been rapidly accelerated under Moreno, who has broken with and turned against the former president.
