Noboa’s popularity holds steady despite blackouts, embassy raid; IMF approves $4 billion loan; Ecuador ‘risk’ drops; U.S. expat killed in robbery near Manta

According to Álvaro Merchante, director of the Comunicaliza polling service, President Daniel Noboa’s public popularity has remained high despite electric blackouts and the government raid on the Mexican embassy. “There was some concern in the government that the electricity crisis would negatively affect the referendum but this did not happen,” Merchante said. “Except for the questions of labor reform and business arbitration — which were not expected to pass — the other proposals passed by landslide margins.”

President Daniel Noboa

Merchante said that the public supported the invasion of the Mexican embassy to arrest former vice president Jorge Glas. “This was a gamble on Noboa’s part, but the polling showed that 61% of respondents supported the action. They considered it part of Noboa’s plan to fight crime and corruption and his popularity rose 2% after the raid, despite the international rejection.”

Merchante added that the power crisis and blackouts pose a continuing threat to Noboa. “This must be overcome and resolved in a timely manner or his popularity will drop. Whether it is his fault or not, he will be blamed if this continues for a prolonged period.”

IMF approves $4 billion loan plan for Ecuador
The International Monetary Fund announced Thursday that it has reached a technical agreement with Ecuador to provide a $4 billion loan. Disbursement could begin within months, the IMF said, following the resolution of details. The loan will carry a 48-month term.

Once the loan receives final approval from the IMF Board of Directors, Minister of Economy Juan Carlos Vega says it will provide new resources for citizen security, public works, and social programs. “It will help in our economic recovery and put the country on the path of inclusive growth,” he said.

Varapat Chensavasdijai, IMF South American Mission chief, said Ecuador requires “an economic boost” to recover from setbacks suffered from the Covid pandemic. “I am pleased we have reached an agreement to support Ecuador’s economic policy plan. Amid a challenging macroeconomic landscape, our goal has been and continues to be to support the government’s efforts to improve the living standards of all Ecuadorians, with a focus on protecting the most vulnerable and promoting sustainable growth,” he said.

U.S. expat killed in robbery near Manta
A U.S. citizen identified as Richard Jackson Lewis was killed Tuesday during an attempted robbery of a restaurant in Santa Marianita, southwest of Manta. Police report that Lewis, 71, was shot four times.

According to witnesses, gunmen arrived on motorcycles and began demanding money and personal belongings from restaurant customers. Lewis resisted their demands and threw chairs at the assailants who responded with gunshots. Lewis was pronounced dead at a Manta hospital.

According to the police report, Lewis had lived alone in an apartment near the restaurant for about year and was scheduled to return to Houston, Texas in October.

Country ‘risk’ falls but remains high
Ecuador’s country risk rating fell 37 points to 1,138 on April 22, following Sunday’s referendum election. The risk rating is an estimate of a government’s likelihood to default on loans.

Since late last year, Ecuador’s risk rating has fallen by more than 800 points but it still ranks fourth among Latin American countries for “most vulnerable” economies. The three risker countries are Venezuela (19,366), Argentina (1,143) and Bolivia (1,862).

Dengue cases soar in Peru
Peru’s Health Ministry reported Tuesday it has counted 155,274 cases of dengue fever since the beginning of the year, a 300% increase over the same period in 2023. It said there have been 146 deaths from the infections, with Lima reporting more than 25% of all cases.

The Ministry said that almost all dengue cases have occurred in the coastal region with the cities of La Libertad, Ica and Piura also being hard hit.

The World Health Organization says dengue infections in South America have reached the highest level in almost two decades, with Brazil being the most effected with three million cases and 1,256 deaths as of April 1. In total cases, Peru ranks second in the region with Colombia third.