Eduardo's Feed
Feb 27, 2012

Ecuador’s Correa pardons media accusers

QUITO, Feb 27 (Reuters) – Ecuador’s leftist President
Rafael Correa on Monday pardoned three newspaper publishers and
a former columnist who had been sentenced to jail and ordered to
pay $40 million damages in a libel case that angered media
freedom advocates.

Since taking office in 2007, Correa has been sparring with
journalists whom he accuses of trying to undermine his rule of
the South American OPEC member. Media critics accuse him of
muzzling them and behaving like an autocrat.

Feb 20, 2012

Ecuador court rejects Chevron arbitration ruling

QUITO (Reuters) – A court in Ecuador has rejected an order by arbitrators that an $18 billion pollution ruling against Chevron should be frozen, but the judges referred an appeal by the U.S. oil company to the country’s Supreme Court.

A year after the landmark decision against Chevron, a panel working for The Hague’s Permanent Court of Arbitration told Ecuador last week to take all necessary measures to suspend enforcement of the award at home and abroad.

Feb 16, 2012

Ecuador’s Correa wins new legal round against media

QUITO, Feb 16 (Reuters) – Ecuador’s top court on
Thursday upheld a jail sentence against three newspaper
publishers who were also ordered to pay hefty damages for
libelling leftist President Rafael Correa, in a ruling described
by media advocates as a blow to democracy.

The combative Correa has been sparring with local media ever
since he took office in 2007 promising a strong government to
better redistribute wealth in the South American OPEC member.

Jan 20, 2012

Chevron appeals $18 billion ruling in Ecuador lawsuit

SAN FRANCISCO/QUITO (Reuters) – Chevron Corp (CVX.N: Quote, Profile, Research, Stock Buzz) has filed an appeal with Ecuador’s National Court of Justice to review a judgment that the U.S. oil company pay $18 billion in damages for polluting the Amazon jungle.

Chevron was ordered by an Ecuadorian judge to pay the damages after a fraught legal battle that has lasted nearly two decades and looks like it will run longer.

Dec 2, 2011

Key political risks to watch in Ecuador

QUITO, Dec 2 (Reuters) – The signing of contracts with two
mining companies, tensions between the central government and
lawmakers and an ongoing row between the media and President
Rafael Correa are issues to watch in Ecuador.

CORREA AND THE MINING SECTOR

Ecuador is set to sign contracts with two Canadian miners
planning to invest some $3 billion for gold and copper mines in
the mineral-rich Andean country. Negotiations for the contracts
have taken much longer than expected because Ecuador is trying
to reap high benefits from the nascent mining industry, which
would allow Correa to boost social spending.

Nov 24, 2011

Ecuador’s Correa says mining contracts “within days”

QUITO, Nov 24 (Reuters) – Ecuador’s President Rafael
Correa said on Thursday his government is “within days” of
signing contracts with mining companies set to develop large
copper and gold projects in the mineral-rich Andean nation.

Deputy Mining Minister Federico Auquilla told Reuters
earlier this week that Canadian-listed Kinross Gold Corp and Ecuacorriente would soon sign contracts
for two projects worth $3 billion in total.

Nov 10, 2011

Ecuador appoints key economic officials

QUITO, Nov 10 (Reuters) – Ecuadorean President Rafael
Correa appointed two long-term allies as political economy
minister and head of the Andean country’s central bank as part
of a wide-ranging cabinet reshuffle on Thursday.

Jeannette Sanchez was appointed as political economy
minister, the government’s top economic job. Until now she was
social development minister, and therefore in charge of
coordinating government efforts to fight poverty and improve
living standards.

Nov 2, 2011

Ecuador sees higher growth in 2012, 5.35 pct-Correa

QUITO, Nov 1 (Reuters) – Ecuador President Rafael Correa
said on Tuesday the Andean country forecasts its economic
growth increasing slightly to 5.35 percent in 2012.

Increased investments helped Ecuador’s economy grow 8.9
percent in the second quarter versus the same period last year,
and the oil-producing country is on track to meet its 5.24
percent growth target for 2011. [ID:nS1E78S16R]

Nov 2, 2011

Ecuador sees higher growth in 2012, 5.35 pct-Correa

QUITO, Nov 1 (Reuters) – Ecuador President Rafael Correa
said on Tuesday the Andean country forecasts its economic
growth increasing slightly to 5.35 percent in 2012.

Increased investments helped Ecuador’s economy grow 8.9
percent in the second quarter versus the same period last year,
and the oil-producing country is on track to meet its 5.24
percent growth target for 2011. [ID:nS1E78S16R]

Nov 1, 2011

Key political risks to watch in Ecuador

QUITO, Nov 1 (Reuters) – The appointment of a new cabinet,
tensions between government and media, and contract talks with
mining companies are issues to watch in Ecuador.

CABINET RESHUFFLE, REFERENDUM REFORMS

Leftist President Rafael Correa asked his cabinet in full
to resign in October, as he often does toward the end of the
year. He should unveil a new cabinet in early November.

    • About Eduardo

      "Eduardo has been reporting from Ecuador since November 2011. He has written about the Andean country's oil industry, tensions between the government of President Rafael Correa and the media, and efforts by Ecuadorean plaintiffs to enforce an $18 billion ruling against U.S. oil company Chevron for polluting the Amazon. He was previously posted in Argentina where he covered the country's grains industry and in Bolivia where he wrote about President Evo Morales' efforts to give the majority Indian population more political power. Eduardo is a Spaniard who has also lived and reported in Guatemala and Britain."
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