With the colonization, Spanish
feudal system was transplanted to the land that closed its doors toward the new winds of
culture in Europe. They were three hundred years of colonization.
In 1995, macroeconomic policy in
Ecuador came under considerable pressure. The border conflict with Peru early
in the year led to increases in fiscal expenditures. A drought-induced electricity crisis
had a sharp negative effect on economic activity as well as a political crisis that
eventually led to the resignation of the vice-president. The cumulative effects of
developments led to a deterioration in macroeconomic conditions over the year.
After intense diplomatic
negotiations between Ecuador and Peru, a comprehensive peace treaty was signed on October
26, 1998, in Brasilia, with the oversight of the four Guarantor countries of the Rio
Protocol (Argentina, Brazil, Chile and the United States) that put an end to this old
The country has a long democratic
tradition. After a brief period of military rule, democracy was restored in 1979. Dr.
Gustavo Noboa assumed the government in January 2000 his platform is directed towards the
reduction of inflation, the modernization of the economy, the promotion of the private
sector expansion, renegotiation of Ecuador's external debt and his struggle against
corruption. Also among his objectives are the strengthening and promotion of democracy and
human rights and the rule of law. Ecuador for several years has been steadily opening its
economy to external competition and has joined the World Trade Organization.
The OAS has traditionally supported
the strengthening of Democracy and Human Rights issues, and to this end it has promoted
several seminars in the country. The OAS fellowship and scholarship programs have been an
important factor in order to train Ecuadorians abroad. OAS has also had a significant role
in the mitigation of the effects of natural disasters.*
* Source: Permanent Mission of
Ecuador to the OAS.