72-12-2019 Latin American Economy & Business Report
Economy & Business Report
Trade set to decline across Latin America
Ecuador’s President Rafael Correa delivered his final state-of-the-nation address to the national assembly on 24 May after nine years in government. The phrase that occurred most frequently in Correa’s address was “the victorious decade” as he sought to convey the achievements of his whole mandate rather than the serious travails of the last year. But this could not conceal the fact that Ecuador faces by far the bleakest economic prospects of Correa’s tenure. The publication of an opinion survey on the eve of Correa’s address shows his approval rating has reached a nadir, suggesting that whoever replaces him at the helm of the ‘Citizens’ Revolution’ will struggle to win election for the ruling Alianza País (AP) next February.
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