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Evaluation of Ecuador’s finances:

Greater evidence and track record of willingness to service debt through political and economic cycles would be positive for Ecuador’s ratings. Increased availability of financing sources, sustained high growth performance and reduced external vulnerabilities would also benefit creditworthiness. On the contrary, a greater-than-expected deterioration in fiscal and external accounts, re-emergence of financing constraints and signs of erosion in willingness to service its outstanding debt could undermine the sovereign’s ratings.

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Development with member of Ecuador President Rafael Correa’s Cabinet:

Ecuador’s Economic Policy Minister Katiuska King, who coordinated President Rafael Correa’s macroeconomic policies within the Cabinet, resigned today, citing policy difference with the president.

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Ties between Ecuador and Russia:

Russia plans to invest at least $1 billion in two hydroelectric complexes in Ecuador, while it is also exploring opportunities in the oil and mining sectors.

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A hearing in Washington, D.C. which includes a discussion of press freedom in Ecuador:

Amid continuing tension between the Ecuadorean government and some of the country’s privately-owned media, Reporters Without Borders hopes that solutions will emerge from the hearing on freedom of expression in Ecuador that the Inter-American Commission on Human Rights (IACHR) is due to hold today in Washington (4.30 pm local).

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Ecuador to raise taxes for the ninth time since 2007:

The tax increase, which would raise the cost of alcohol by 75 percent, “will continue funding a gigantic budget that has devoured not only the hopes of the nation’s industrial sector, but also its middle class,” Blasco Penaherrera, president of the Quito Chamber of Commerce, said in an Oct. 24 e-mailed statement.

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News about oil production and exports in Ecuador:

Ecuador produces about 500,000 barrels of oil per day (bpd), of which about 70 percent is produced by state-run companies.

Ecuador has projected it will break its production record of 526,000 bpd next year.

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More on Ecuador President Rafael Correa’s cabinet:

All members of the Ecuadorean presidential cabinet have tendered their resignations to president Rafael Correa on Monday, presidential secretary Alexis Mera announced, explaining that it was Correa himself who had asked for them to do so.

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Political developments with Rafael Correa, president of the country where the Chevron Ecuador trial has taken place:

Ecuador’s Cabinet offered to resign at the request of President Rafael Correa, in a move that probably foreshadows changes in a government that has seen five finance ministers since 2007.

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