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Free AccessECUADOR-Left Wing Correaist, Centrist Son Of Banana Tycoon Make 2nd Round
The first round of the Ecuadorian presidential election on 20 August delivered one expected result and one notable surprise ahead of the second round run-off on 15 October. The expected result was that Luisa González from the left-wing Correaist Citizen Revolution Movement won a plurality, with 33.3% according to partial results.
- The notable surprise was that Daniel Noboa, from the centrist National Democratic Action (ADN), came in second place with 23.7% of the vote. Prior to the election, Noboa's highest polling score was 6.8% support in a 6 August survey. Noboa is the son of banana magnate and perennial presidential candidate Álvaro Noboa.
- The run-off sets up a stark contrast in options for Ecuador's future. González has pledged to essentially govern as a proxy of former president-in-exile Rafael Correa, with a hard-line leftist agenda that would align Ecuador with other LatAm nations that have also elected leftist gov'ts in recent years such as Colombia, Chile, and Brazil.
- Should González win, Correa would be likely to be allowed to return to Ecuador and could look to run for office once the next president's term expires in 2025. Due to the muerte cruzada dissolution of parl't by outgoing President Guillermo Lasso the new president will not serve their own full term but instead finish the remainder of Lasso's.
- Noboa, is running on a platform of pragmatic centrism boosted by widespread name recognition. NYT reports: "Mr. Noboa supported bills to attract international investment and cut taxes[...]His policy proposals include pledges to create jobs, lower taxes, lower electricity bills and enter into more international free trade agreements."
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.