| AllExperts > Encyclopedia | ||
![]() |
Ecuador: Encyclopedia BETAFree Encyclopedia |
| Home · Index · Browse A-Z | · Questions and Answers · |
|
EconomyEcuador has substantial petroleum resources and rich agricultural areas. Because the country exports primary products such as oil, bananas, and shrimp, fluctuations in world market prices can have a substantial domestic impact. Industry is largely oriented to servicing the domestic market. Deteriorating economic performance in 1997-98 culminated in a severe economic and financial crisis in 1999. The crisis was precipitated by a number of external shocks, including the El Niño weather phenomenon in 1997, a sharp drop in global oil prices in 1997-98, and international emerging market instability in 1997-98. These factors highlighted the Government of Ecuador's unsustainable economic policy mix of large fiscal deficits and expansionary money policy and resulted in an 7.3% contraction of GDP, annual year-on-year inflation of 52.2% and a 65% devaluation of the national currency in 1999, which helped precipitate an unprecedented default on external loans later that year.On January 9, 2000, the administration of President Jamil Mahuad announced its intention to adopt the U.S. dollar as the official currency of Ecuador to address the ongoing economic crisis. The adoption of the U.S. dollar as currency, as opposed to pegging a local currency to it, means that the benefits of seigniorage accrue to the U.S. economy whether or not there is any compensation for this. Subsequent protest led to the removal of Mahuad from office and the elevation of Vice President Gustavo Noboa to the presidency. The Noboa government confirmed its commitment to dollarize as the centerpiece of its economic recovery strategy. The government also entered into negotiations with the International Monetary Fund (IMF), culminating in the negotiation of a 12-month stand-by arrangement with the Fund. Additional policy initiatives include efforts to reduce the government's fiscal deficit, implement structural reforms to strengthen the banking system and regain access to private capital markets. Buoyed by high oil prices, the Ecuadorian economy experienced a modest recovery in 2000, with GDP rising 1.9%. However, 70% of the population lives below the poverty line, more than double the rate of 5 years ago. Inflation in 2000 remained high at 96.1%, but the rate of inflation continues to fall. Monthly inflation in February 2001 was 2.9%. DemographicsEcuador's population is ethnically diverse. The largest ethnic group is comprised of Mestizos, the mixed descendants of Spanish colonists and indigenous Amerindians, who constitute just over 65% of the population. Amerindians are second in numbers and account for approximately a quarter of the current population, around 25%. Whites are mainly criollos, primarily of Spanish descent, and account for 7%. The small Afro-Ecuadorian minority — including Mulattos and zambos, and largely based in Esmeraldas — constitutes the remainder. The tropical forest region to the east of the mountains remains sparsely populated and contains only about 3% of the population. Although the constitution demands that 30% of gross revenue be dedicated to education, the government's stated goal is to dedicate 11% of the budget. It is estimated that gross domestic product (GDP) spending will reach 4% in 2003. The UN Children's Fund (UNICEF) places adult literacy at 90%, but notes that this rate has been stagnant for more than ten years. The UN Educational, Scientific, and Cultural Organization (UNESCO) reports that only 87% of the primary school teachers and 72% of high school teachers have received training. The public education system is tuition-free, and attendance is mandatory from ages five to fourteen. However, the Ministry of Education reports that only 10% of five year olds actually have access to daily education and that only 66% of youngsters finish six years of schooling. In rural areas, only 10% of the youngsters go on to high school. Ministry statistics give the mean number of years completed as 6.7. Ecuador has sixty one universities, many of which now offer graduate degrees, although only 18% of the faculty in public universities possess graduate degrees. 300 Higher Institutes offer two to three years of post-secondary vocational or technical training. The Higher Education Reform Act transferred oversight of these poorly regulated institutes from the Ministry of Education to the CONESUP. Religion
As in every other Latin American nation, Protestantism has had massive growth, especially in the poor rural areas. Other groups such as Jehovah's Witness and Mormons have also seen increasing numbers. There is a small Muslim minority numbering in the low thousands. The Jewish community numbers just over 1,000 individuals and is mostly of German and Italian origin. There are also Sephardic Jews (Judeo-Spanish Jews). Few of them still practice Judaism at different levels, while the majority are today Christians whose ancestors were converted to Catholicism. Culture
SportThe most popular sport in Ecuador, as in most South American countries, is football. Some of its best known professional teams include Barcelona S.C. and C.S. Emelec, from Guayaquil, Liga Deportiva Universitaria de Quito and El Nacional (the Ecuadorian Armed Forces team) from Quito, Olmedo from Riobamba, and Deportivo Cuenca, from Cuenca. The matches of the Ecuadorian national football team are the most watched sports events in the country. Ecuador has qualified for the final rounds of both the 2002 and 2006 FIFA World Cups. Ecuador beat Poland and Costa Rica to finish 2nd to Germany in Group A in the 2006 World Cup and qualify for the second round for the first time in their history, where they lost 1-0 to England.Futsal is particularly popular for mass participation. There is considerable interest in tennis in the middle and upper classes in the Ecuadorian society, and several Ecuadorian professional players have attained considerable international fame, including Francisco Segura, Andrés Gomez and, in the 1990s, Nicolas Lapentti. Basketball also has a high profile, while Ecuador's specialities include Ecuavolley, a 3 person variation of volleyball. Bullfighting is practiced at a professional level only in Quito, during the annual festivities which commemorate the Spanish founding of the city, although bloodless variations of this sport, called rodeos montubios are practiced in many rural areas during local festivities.Olympic sports are also getting popular especially since Ecuador obtained its first Olympic gold medal in Atlanta's 1996 Olympic Games, by the hand of Jefferson Perez, on the 20km walk Men Athletics. Recently there is a flourishing Ecuadorian activity in non traditional sports, as mountain bike, motor bikes, surf, mountain climbing in between of others. FoodThe food in Ecuador is very diverse, varying with altitude as do the agricultural conditions. Pork, chicken, meat or even "Cuy" (roasted guinea pig) are popular in the mountain regions served with an immense variety of cereals and potatoes or rice.There is a great variety of fresh fruit available, particularly at lower altitudes. Seafood is popular at the coast, particularly corvina and prawns. Shrimp is very popular and is very fresh in Ecuador. A street food in Ecuador is potatoes served with roasted pig. Fanesca is also a dish that has been made famous in Ecuador, it is a soup made during the time of lent and is composed by different numerous styles of beans (i.e. green beans, lima beans, chochos) it also contains milk and is usually served with dry cold fish. Some of the most typical dishes are: "ceviche", "hornado", "fritada", "watita", "encebollado", a big variety of "empanadas", "tamales", "llapingachos", etc. FilmRatas, Ratones, Rateros (1999) written and directed by Ecuadorian Sebastián Cordero is an Ecuadorian film about an 18 year quiteño whose cousin, a thief from the more violent coastal city of Guayaquil, embroils all those around him. The film has been accused by several critics of painting an extremely distorted contrast between the coast (Guayaquil) and the highlands (Quito), which stems from the ever-present feelings of regionalism between the aforementioned parties.The Waorani tribe (located in Ecuador) will be heavily portrayed in the 2006 theatrical release of "The End of the Spear," the story about five missionaries speared to death, as told through the eyes of a Waorani tribesman. The film Proof of Life (2000), starring Meg Ryan and Russell Crowe, was filmed in Ecuador. The film, nontheless, takes place in a fictitious South American country named 'Tecala'. The guerrilla movement depicted in the film is reminiscent of Peru's Shining Path or Colombia's FARC. The 2004 film Maria Full of Grace was partially shot in Ecuador, although it is set in Colombia. The 2005 film Crónicas, written and directed by Ecuadorian Sebastián Cordero starring John Leguizamo in his Spanish-language debut, is set and filmed entirely in Ecuador. The 1980s film Vibes, starring Cyndi Lauper and Jeff Goldblum, was shot in Ecuador. The Andean cities served as a backdrop for the film. In addition to film, the science fiction novel by Rod Glenn, The King of America, features locations in Ecuador. Famous EcuadoriansNotable people born in Ecuador include:*Academics:Benjamín Urrutia *Artists:Arauz:Maria Baquerizo:Hugo Cifuentes:Theo Constanté:Bernardo de Legarda :Gonzalo Endara Crow:Aracelli Gilbert:Oswaldo Guayasamín:Judith Gutierrez:Eduardo Kingman:Maldonado:Bolivar Mena Franco:Luis Miranda:Luis Molinari:Felix Munoz:Grace Polit:Marcos Restrepo:Leon Ricaurte:Tábara:Jorge Velarde:Aníbal Villacís:Juan Villafuerte:Oswaldo Viteri:Andres Zambrano *Authors:José Joaquín de Olmedo:Ángel Felicísimo Rojas:Jorge Icaza Coronel:José de la Cuadra:Alfredo Pareja Diezcanseco:Demetrio Aguilera Malta:Adalberto Ortiz:Enrique Gilbert:Humberto Salvador *Film-makers:Sebastián Cordero:Camilo Luzuriaga *Musicians and Singers:Gerardo:Julio Jaramillo:Beatriz Parra Durango *Sportsmen/women:Álex Aguinaga:Ulises de la Cruz:Agustín Delgado:Andrés Gómez:Eduardo Hurtado:Iván Hurtado:Nicolás Lapentti:Jefferson Pérez:Pancho Segura:Alberto Spencer See also* Communications in Ecuador* Ecuadorian-United States relations * Foreign relations of Ecuador * History of the Ecuadorian-Peruvian territorial dispute * List of Ecuadorians * List of Latin American artists * Military of Ecuador * Music of Ecuador * Public holidays in Ecuador * Reporters without borders world-wide press freedom index 2002: Rank 87 out of 139 countries * Transportation in Ecuador * Papallacta * Asociación de Scouts del Ecuador External links*Presidencia de la República, Official government site *Encyclopaedia Britannica Ecuador Country Page *Ministerio de Turismo del Ecuador, Official ecuador tourist information *Superintendencia de Telecomunicaciones, Governmental control of telecommunications services *Banco Central de Ecuador, National Bank *NIC.EC, Registrar for internet domains specific to Ecuador(.ec) *Ecuador, Description of the regions, main cities and National Parks in Ecuador *Political News of Ecuador, News Agency present political news.
| ||||||||||||||||||||||||||
| About Us | Advertise on This Site | User Agreement | Privacy Policy | Kids' Privacy Policy | Help About and About.com are registered trademarks of About, Inc. The About logo is a trademark of About, Inc. All rights reserved. This is the "GNU Free Documentation License" reference article from the English Wikipedia. All text is available under the terms of the GNU Free Documentation License. See also our Disclaimer. |