Economy & Business - November 2023

ECUADOR: Noboa to take the reins

In the 15 October second round of Ecuador’s presidential election, Daniel Noboa of the centre-right Acción Democrática Nacional (ADN) won with 51.8% of the vote, defeating Luisa González of the left-wing Revolución Ciudadana (RC). Noboa will only have 18 months to govern before elections are next due in May 2025, as he completes the truncated term of President Guillermo Lasso. Facing an impeachment vote, Lasso dissolved congress and triggered a snap general election, in which he did not compete. Noboa is broadly viewed as a continuity candidate, and his election assuaged the concerns of markets worried about an abrupt swing to a state-led economic model under RC.

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