Ecuador

The centre-right president, Daniel Noboa of Acción Democrática Nacional, is facing a major diplomatic conflict after his government raided the Mexican embassy in order to capture Jorge Glas, a former vice-president of the left-wing Revolución Ciudadana, who was convicted of corruption. In addition to Mexico, which has cut diplomatic relations with Ecuador, many countries and international organisations have condemned the raid, including the US, the EU and the Organisation of American States.

In the short term, the raid might improve Mr Noboa’s standing, as it has been seen by some as evidence of the president’s tough stance on corruption. Nevertheless, the raid will deal a blow to Ecuador’s reputation over the long term, as it violates international conventions that establish the inviolability of embassies in a host country. Trickier governability, together with a slowing economy and weak public finances, will pose major challenges for the president.

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Global outlook: what to watch in Latin America

In EIU’s Global Outlook video from January 2024, head of global forecasting and economics, Tom Rafferty, and senior analyst, Michelle Campbell, discuss what to watch in Latin America for the year ahead.

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Ecuador: industry analysis and forecasts

Expert insights and growth outlook for six major industries.

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