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Free AccessECUADOR-Moderate Noboa Secures Presidency
Centrist candidate Daniel Noboa has secured the Ecuadorian presidency, defeating left-wing correista candidate Luisa González by 52% to 48% in the 15 October run-off. Noboa will now serve out the remainder of outgoing President Guillermo Lasso's term, with the next election taking place in May 2025. As such, while Noboa comes to office with pledges of improving security amid widespread cartel-related violence and rebuilding the country's economy, he will have precious little time to enact these policies before having to begin campaigning once again.
- Noboa will also be constrained by a fragmented National Assembly. There, left-wing former President Rafael Correa's Citizen Revolution Movement (RC) has secured the most seats (although short of an outright majority). Noboa's centrist National Democratic Action came in third place behind RC and the big-tent Movimiento Construye (MC25), whose presidential candidate, anti-corruption crusader Fernando Villavicencio, was assassinated during the campaign. To pass legislation Noboa's bloc will need the support of numerous other parties, potentially watering-down policies or requiring concessions.
- The new president's cabinet picks will also be important. Ahead of the first-round election Noboa was seen as an also-ran. This lack of expectation, combined with him coming to power as Ecuador's youngest-ever president at just 35, will mean the composition of his group of ministers important in terms of signalling policy priorities.
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.