Ecuador

ECUADOR

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Ecuador is located in Western South America, bordering the Pacific Ocean at the Equator, between Colombia and Peru

Facts about Ecuador

Population	13,927,650 (July 2008 est
Capital	Quito
Time zone	UTC-5 (same time as Washington, DC during Standard Time)
Location	Western South America, bordering the Pacific Ocean at the Equator, between Colombia and Peru

General info about Ecuador

What is now Ecuador formed part of the northern Inca Empire until the Spanish conquest in 1533. Quito became a seat of Spanish colonial government in 1563 and part of the Viceroyalty of New Granada in 1717. The territories of the Viceroyalty - New Granada (Colombia), Venezuela, and Quito - gained their independence between 1819 and 1822 and formed a federation known as Gran Colombia. When Quito withdrew in 1830, the traditional name was changed in favor of the "Republic of the Equator." Between 1904 and 1942, Ecuador lost territories in a series of conflicts with its neighbors. A border war with Peru that flared in 1995 was resolved in 1999. Although Ecuador marked 25 years of civilian governance in 2004, the period has been marred by political instability. Protests in Quito have contributed to the mid-term ouster of Ecuador's last three democratically elected Presidents. In 2007, a Constituent Assembly was elected to draft a new constitution; Ecuador's twentieth since gaining independence.

Disease threats

degree of risk: high food or waterborne diseases: bacterial diarrhea, hepatitis A, and typhoid

Languages spoken

Spanish (official), Amerindian languages (especially Quechua)

What about drugs?

significant transit country for cocaine originating in Colombia and Peru, with over half of the US-bound cocaine passing through Ecuadorian Pacific waters; importer of precursor chemicals used in production of illicit narcotics; attractive location for cash-placement by drug traffickers laundering money because of dollarization and weak anti-money-laundering regime; increased activity on the northern frontier by trafficking groups and Colombian insurgents

Ethnic division

mestizo (mixed Amerindian and white) 65%, Amerindian 25%, Spanish and others 7%, black 3%

HIV/AIDS prevalence rate

0.3% (2003 est.)

Climate

tropical along coast, becoming cooler inland at higher elevations; tropical in Amazonian jungle lowlands

Resources

petroleum, fish, timber, hydropower

Economy

Ecuador is substantially dependent on its petroleum resources, which have accounted for more than half of the country's export earnings and one-fourth of public sector revenues in recent years. In 1999/2000, Ecuador suffered a severe economic crisis, with GDP contracted by more than 6%, with a significant increase in poverty. The banking system also collapsed, and Ecuador defaulted on its external debt later that year. In March 2000, Congress approved a series of structural reforms that also provided for the adoption of the US dollar as legal tender. Dollarization stabilized the economy, and positive growth returned in the years that followed, helped by high oil prices, remittances, and increased non-traditional exports. From 2002-06 the economy grew 5.5%, the highest five-year average in 25 years. The poverty rate declined but remained high at 38% in 2006. In 2006 the government imposed a windfall revenue tax on foreign oil companies, leading to the suspension of free trade negotiations with the US. These measures led to a drop in petroleum production in 2007. President Rafael CORREA raised the specter of debt default and followed through on those threats in December 2008. He also decreed a higher windfall revenue tax on private oil companies, then renegotiated their contracts to overcome the debilitating effect of the tax. This generated economic uncertainty; private investment has dropped and economic growth has slowed significantly.

Environment

deforestation; soil erosion; desertification; water pollution; pollution from oil production wastes in ecologically sensitive areas of the Amazon Basin and Galapagos Islands