Last year, BanEcuador incurred losses of $110 million, partly due to forgiving and restructuring debts as a political compromise with indigenous representatives. The public bank BanEcuador has been facing a significant financial crisis, marked by a record number of...
In January, the export volume of non-traditional products experienced a decline of 16.8%. The manufacturing sector is currently one of the poorest performing industries. According to data from the Central Bank, Ecuador started 2023 with a significant drop in exports...
Builders have discovered a new market among Ecuadorians and foreigners seeking housing in the center of Cuenca. The price of housing units varies from $1,000 to $2,000 per square meter. Real estate developers are finding a new market among Ecuadorians and foreigners...
The impeachment trial against President Lasso is a significant event in Ecuador’s recent history, and its outcome could have significant implications for the country’s political landscape. The unpredictable nature of the Oversight Commission and the lack of legal clarity on how to proceed if the Commission does not approve a report makes it difficult to […]
The United Nations Office on Drugs and Crime (UNODC) has published its 2023 global report on the cocaine market, with Ecuador being mentioned repeatedly throughout the document. The global cocaine market has undergone significant changes due to the COVID-19 pandemic, but the long-term trends remain largely unchanged, according to the 2023 Global Report on the […]
The government has declared a road emergency to address the damage on two Azuay roads that were further exacerbated by the earthquake that occurred on March 18th. The Ministry of Transport has estimated that the required repairs will cost approximately $27 million. The Government of Ecuador declared a road emergency to intervene on two major […]
The demand for property insurance rose following the 2016 earthquake, resulting in net premiums of $254 million being written last year. The demand for real estate insurance policies has been growing in Ecuador in recent years. According to the Ecuadorian Federation of Insurance Companies (Fedeseg), there has been a 34% increase in the demand for […]
As social beings, we all yearn for that sense of connection, that feeling of camaraderie and shared experience. And when old friends come back into our lives, it’s like a fresh breeze on a hot summer day, reminding us of the relationships we’ve built and the memories we’ve shared. Recently, my wife and I had […]
Final opinion of Ecuador Constitutional Court allowing impeachment of President Guillermo Lass to move to a political trial. The political trial for impeachment against Ecuador President Guillermo Lasso was ruled ‘admissible’ by the Constitutional Court of Ecuador on March 29, 2023. In their opinion, the Court excluded two charges of ‘concussion’ [racketeering] against the President. […]
The tram system is currently facing a financial shortfall, as its revenue is insufficient to cover all its expenses for the year. In response, the newly elected mayor, Cristian Zamora, plans to request that the government fulfill its 2013 promise to cover the costs of the tram construction. The Cuenca tramway was a significant addition […]