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Transcript

CRISIS

92-97

The worst until today...

WHAT WAS IT?

Between those years, Ecuador experienced one of the strongest crisis of its

history. This crisis was produced by many factors:

50%

exports

This is a big problem for Ecuador because 50 percent of its exports and 30 percent of its government revenues come from oil.

Fall oil prices

30%

Government revenues

The Cenepa War was a confrontation that took place during the months of January and February in 1995.

Cenepa War 1995

Cenepa

"Ni un paso atrás"

The conditions imposed by the World Bank, plus the insistent privatization of public services, resulted in the reduction of jobs, the reduction of subsidies, eliminating free basic education services and investment in public health

World Bank

:(

the crisis increased

ENSO

In 1997, El Niño phenomenon affected the agriculture, this problem had an impact on all the cities in the Coastal region aggravating the economic situation.

The effects of the bank bailout and dollarization aggravated the situation In 1999, 12.9% of GDP was used for payment of external debt and only 1.4% for social spending.

All this caused the massive migration of Ecuadorians mainly to Spain and the United States. One and a half million Ecuadorians migrated to Europe, that is 10% of the economically active population.

THE

BANKS / ABDALÁ BUCARAM

He ruled Ecuador in 1996 and was dismissed after six months in 1997 for "mental incapacity to govern." His administration was marked by corruption scandals and deviation of funds (Peculate)

Abdalá Bucaram

Abdalá Bucaram "El Loco"

96 - 97

(6 months)

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