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Correa hails victory for the left in Ecuador
Ecuador is poised to join the tide of Latin American countries voting for left-wing leaders after Rafael Correa, an economist, took a resounding lead in exit polls over Alvaro Noboa, a billionaire.
Mr Correa, a former finance minister with an economics doctorate from the University of Illinois, has promised to renegotiate the country's foreign debt and focus spending on relieving intense poverty in the Andean nation.
"This is a clear message that the people want change," 43-year-old Mr Correa said after provisional results gave him two thirds of the vote.
Mr Noboa, Ecuador's wealthiest man with holdings ranging from bananas to the building sector, has rejected the results and said he might demand a recount. Full official results are expected later today.
A Correa victory will see Ecuador join Bolivia, Venezuela, Nicaragua, Chile and Brazil in electing left-wing leaders in the past year. The scale of this popular rejection of the neo-liberal policies that dominated the region in the 1990s, enshrined in the Washington Consensus, has caused alarm in the US, which has seen its influence sharply curbed.
Mark Weisbrot, regional analyst from the Centre for Economic and Policy Research, said the swing had come after 25 years of disastrous economic failure that has stymied growth and mired millions in poverty. "What you've seen in these elections is the people going over the heads of the political establishment because they need change," he said.
More
http://news.independent.co.uk/world/americas/article2021212.ece
"This is a clear message that the people want change," 43-year-old Mr Correa said after provisional results gave him two thirds of the vote.
Mr Noboa, Ecuador's wealthiest man with holdings ranging from bananas to the building sector, has rejected the results and said he might demand a recount. Full official results are expected later today.
A Correa victory will see Ecuador join Bolivia, Venezuela, Nicaragua, Chile and Brazil in electing left-wing leaders in the past year. The scale of this popular rejection of the neo-liberal policies that dominated the region in the 1990s, enshrined in the Washington Consensus, has caused alarm in the US, which has seen its influence sharply curbed.
Mark Weisbrot, regional analyst from the Centre for Economic and Policy Research, said the swing had come after 25 years of disastrous economic failure that has stymied growth and mired millions in poverty. "What you've seen in these elections is the people going over the heads of the political establishment because they need change," he said.
More
http://news.independent.co.uk/world/americas/article2021212.ece
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The economist won 57.9 per cent of the votes compared to the conservative banana tycoon Noboa's 42.1 per cent, with more than 90 per cent of the votes tallied.
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http://english.aljazeera.net/NR/exeres/1B18A811-4403-4F0D-9C78-BB6E40DA0A0A.htm