The Ecuadorian government needs to decide how it will treat the debts, which accounted for two-thirds of the $10 billion the country owed last December ahead of its second default in a decade, Correa said yesterday in Quito. As with the defaulted bonds, criminal acts were committed by previous gov... [More]

“Is Ecuador recession-proof?” It is a question that Quito attorney and business advisor Rick VandDercreek hears frequently these days and he notices that most of those asking are North American and European investors. “I’m not sure where people are getting the i... [More]

U.S.-based developers have announced plans for what they are calling “a first of its kind residential community in Cuenca.” Daryl Lassiter, project spokeman for Cuenca Casas, said that the community will be designed to appeal to both foreigners and local residents. &ldq... [More]

Ecuador’s Economic Policy Minister, Diego Borja, defended the country’s use of the U.S. dollar and said President Rafael Correa wasn’t planning to abandon the system. “The president has been clear, we are going to defend dollarization,” Borja said today in an in... [More]

Are you considering buying real estate in Ecuador’s most popular areas, the southern Andes and the South Coast? One of the best ways to check out the market --and to see the country at the same time-- is to sign up for one of two real estate tours being offered in March. The Cuenca -&n... [More]

President Rafael Correa has announced Saturday that Ecuador will suspend oil production by Italy's Agip and reduce quotas for other companies to comply with new OPEC cuts. Correa said on Saturday that he has ordered Ecuador's oil minister to cut off all production by Agip, a sub... [More]

Chilean-based airline Lan, has been granted a two-year concession to operate domestic flights in Ecuador, according to Ecuadorian transportation officials. Lan's entry into the national market may also signal the beginning of international flights to Cuenca. The concession grants Lan rig... [More]

Although interest in coastal real estate in Ecuador is running at a record high, many misconceptions remain about the coast itself. The following overview of the region attempts to set the record straight.   The terrain: The landscape is remarkably varied, ranging from broad, flat ... [More]

By Charmaine Noronha As the sun descends, street lamps take over, illuminating grand colonial plazas, historic buildings and romantic balconies that line the major streets of capital city Quito's Centro Historico district in Ecuador. The streets buzz with activity. Indigenous women... [More]

Ecuadorian airline Aerogal announced Oct. 12 that it will begin international service between Quito, Guayaquil and Miami, Dec. 7. The Cuenca-based airline, began the service last year but suspended the operations within days due to a lack of aircraft. The a... [More]

Life just got a little tougher for foreigners who want to remain in Ecuador beyond the 90 days granted by their tourist passport entry stamp. A memo from the country’s ministry of foreign relations to local immigration offices on Monday, Sept. 22, eliminates the in-country 90-day extens... [More]

U.S. ambassador Heather Hodges credits Ecuador's efforts to control drug traffic for steps by the U.S. Congress to extend trade preferences due to expire at the end of the year. The U.S. House of Representatives voted to extend preferences on Sept. 29 and the Senate followed sui... [More]

The chairman of Ecuador's Central Bank reported Thursday, Sept. 11, that, the country's GNP will grow by 5.2% in 2008, up from the previous estimate of 3%. Carlos Vellejo credited most of the growth to high prices of oil. The increase in agricultural revenue has also be... [More]

Despite rumors to the contrary, the laws and major policies of the Ecuadorian immigration office relating to foreigners have not changed, according to an immigration expert. "Rules and interpretations change day to day and from one director to the next, but this has always... [More]

Hit hard by higher commodity and fuel prices and the drop of the U.S. dollar, constructions prices in Ecuador and Latin America generally, have shown a sharp escalation in recent months. Most of the increase comes in the area of materials, particularly steel, concrete, electrical, plumbing and oth... [More]