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History

     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 problem.

     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. 

 

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Updated: 9 April 2008