a military-indigenous coup toppled democratically elected President Jamil MAHAUD on 21 January 2000; the military quickly handed power over to Vice President Gustavo NOBOA on 22 January; National Congress then elected a new vice president from a slate of candidates submitted by NOBOA; the new administration is scheduled to complete the remainder of MAHAUD's term, due to expire in January 2003
Legislative branch: unicameral National Congress or Congreso Nacional (121 seats; 79 members are popularly elected at-large nationally to serve four-year terms; 42 members are popularly elected by province - two per province - for four-year terms)
elections: last held 31 May 1998 (next to be held NA 2002)
election results: percent of vote by party - NA%; seats by party - DP 32, PSC 27, PRE 24, ID 18, P-NP 9, FRA 5, PCE 3, MPD 2, CFP 1; note - defections by members of National Congress are commonplace, resulting in frequent changes in the numbers of seats held by the various parties
Judicial branch: Supreme Court or Corte Suprema (new justices are elected by the full Supreme Court)
Political parties and leaders: Concentration of Popular Forces or
CFP [Averroes BUCARAM]; Democratic Left or ID [Rodrigo BORJA
Cevallos]; Ecuadorian Conservative Party or PCE [Sixto DURAN
Ballen]; Independent National Movement or MIN [leader NA];
Pachakutik-New Country or P-NP [Rafael PANDAM]; Popular Democracy or
DP [Ramiro RIVERA]; Popular Democratic Movement or MPD [leader NA];
Radical Alfarista Front or FRA [Fabian ALARCON, director]; Roldosist
Party or PRE [Abdala BUCARAM Ortiz, director]; Social Christian
Party or PSC [Jaime NEBOT Saadi, president]
Political pressure groups and leaders: Confederation of Indigenous
Nationalities of Ecuador or CONAIE [Antonio VARGAS]; Coordinator of
Social Movements or CMS [F. Napoleon SANTOS]; Popular Front or FP
[Luis VILLACIS]
International organization participation: CAN, CCC, ECLAC, FAO,
G-11, G-77, IADB, IAEA, IBRD, ICAO, ICC, ICFTU, ICRM, IDA, IFAD,
IFC, IFRCS, IHO, ILO, IMF, IMO, Intelsat, Interpol, IOC, IOM, ISO,
ITU, LAES, LAIA, NAM, OAS, OPANAL, OPCW, PCA, RG, UN, UNCTAD,
UNESCO, UNIDO, UPU, WCL, WFTU, WHO, WIPO, WMO, WToO, WTrO
Diplomatic representation in the US: chief of mission: Ambassador
Ivonne A-BAKI
chancery: 2535 15th Street NW, Washington, DC 20009
telephone: [1] (202) 234–7200
FAX: [1] (202) 667–3482
consulate(s) general: Chicago, Houston, Los Angeles, Miami, New Orleans, New York, Newark, Philadelphia, and San Francisco
Diplomatic representation from the US: chief of mission: Ambassador
Gwen C. CLARE
embassy: Avenida 12 de Octubre y Avenida Patria, Quito
mailing address: APO AA 34039
telephone: [593] (2) 562–890
FAX: [593] (2) 502–052
consulate(s) general: Guayaquil
Flag description: three horizontal bands of yellow (top, double width), blue, and red with the coat of arms superimposed at the center of the flag; similar to the flag of Colombia which is shorter and does not bear a coat of arms
Ecuador Economy
Economy - overview: Ecuador has substantial oil resources and rich agricultural areas. Because the country exports primary products such as oil, bananas, and shrimp, fluctuations in world market prices can have a substantial domestic impact. Ecuador joined the World Trade Organization in 1996, but has failed to comply with many of its accession commitments. In recent years, growth has been uneven due to ill-conceived fiscal stabilization measures. The aftermath of El Nino and depressed oil market of 1997–98 drove Ecuador's economy into a free-fall in 1999. The beginning of 1999 saw the banking sector collapse, which helped precipitate an unprecedented default on external loans later that year. Continued economic instability drove a 70% depreciation of the currency throughout 1999, which eventually forced a desperate government to "dollarize" the currency regime in 2000. The move stabilized the currency, but did not stave off the ouster of the government. The new president, Gustavo NOBOA has yet to complete negotiations for a long sought IMF accord. He will find it difficult to push through the reforms necessary to make "dollarization" work in the long run.
GDP: purchasing power parity - $37.2 billion (2000 est.)
GDP - real growth rate: 0.8% (2000 est.)
GDP - per capita: purchasing power parity - $2,900 (2000 est.)
GDP - composition by sector: agriculture: 14%
industry: 36%
services: 50% (1999 est.)
Population below poverty line: 50% (1999 est.)
Household income or consumption by percentage share: lowest 10%: 2.2%
highest 10%: 33.8% (1995)
Inflation rate (consumer prices): 96% (2000 est.)
Labor force: 4.2 million
Labor force - by occupation: agriculture 30%, industry 25%, services 45% (1999 est.)
Unemployment rate: 13%; note - widespread underemployment (2000 est.)
Budget: revenues: planned $5.1 billion (not including revenue from potential privatizations)
expenditures: $5.1 billion, including capital expenditures of $NA (1999)
Industries: petroleum, food processing, textiles, metal work, paper products, wood products, chemicals, plastics, fishing, lumber
Industrial production growth rate: 2.4% (1997 est.)
Electricity - production: 10.065 billion kWh (1999)
Electricity - production by source: fossil fuel: 29.51%
hydro: 70.49%
nuclear: 0%
other: 0% (1999)
Electricity - consumption: 9.386 billion kWh (1999)
Electricity - exports: 0 kWh (1999)
Electricity
