Monday, June 27

Elections in Ecuador 2021: 3 problems of the country’s fragile economy and how Guillermo Lasso intends to overcome them

  • Cecilia Barría
  • BBC World News

Hand with dollars over Ecuador flag

Image source, Getty Images


The dollarized economy of the oil country was already in crisis due to low oil prices and a high level of indebtedness when the coronavirus outbreak broke out.

Former conservative 65-year-old banker Guillermo Lasso will assume the presidency of Ecuador in May amid a severe economic crisis exacerbated by the covid-19 pandemic.

Lasso aims to stimulate the economy by increasing foreign investment and boosting oil production, the most important export product of the South American nation.

During the campaign he promised to generate two million Job positions and expanding the agricultural sector through low-interest loans.

But with a country deeply in debt and with few resources in the fiscal coffers, its economic agenda is likely to be an uphill road.

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