Life Under Rafael Correa

In case you don’t know, and there is no reason why you should, Rafael Correa is the current leftist president of Ecuador. He was elected in 2007 and has certainly made a mark – good or bad depending on which side you are on. In 2008 he lead Ecuador to default on its foreign debt. Later he terminated 13 different bilateral investment treaties creating some uncertainty in the foreign investment community. At the same time GDP is up along with real estate prices and Ecuador seems to have favorably weathered the financial crisis that rocked many other countries. Whether you love him or hate him, you had probably better get used to him because it is likely he will be re-elected in 2013.

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