Daily coverage from across the country, written for the expat community
Banco Pichincha went from $42M to $88M in profits. Banco del Pacífico: $46M to $84M. The president posted the numbers on X and questioned who benefits from the crisis narrative.
International investors put up $7 billion in orders for $1 billion in Ecuadorian sovereign bonds. The yield improved, the country risk hit an 11-year low, and the government says it proves confidence is back.
Ecuador is burning through diesel at a 23% faster rate to keep the lights on. Diesel prices jumped from .11 to .45 per gallon. And the government just failed — for the second time — to secure emergency thermal generation contracts.
Without Colombian electricity and an unreliable Coca Codo Sinclair plant, Ecuador's grid operator projects rolling blackout risk during the October-March dry season. The government is scrambling to rent diesel generators.
After months of escalating tariffs, Ecuador will reduce duties on Colombian imports from 100% to 75%. Cosmetics, medicines, plastics, and automotive parts are the primary categories affected.
Average salary expectations have dropped 2.66% this quarter to $818, while the basic food basket costs $829. Here's what the gap means for Ecuador's economy and the expat cost-of-living picture.
SENAE rolled back the duty-free alcohol allowance to three liters per traveler starting May 4. Nearly 700,000 liters entered duty-free in 2024, and the agency says informal commerce was the real beneficiary.
Ecuador slashed the sales tax on tourism services from 15% to 8% for the four-day Labor Day holiday. Hotels, restaurants, car rentals, and tours all qualify under Executive Decree 368. Here's what counts, what doesn't, and how to make sure you're getting the discount.
Ecuador's free trade agreement with China turned two on May 1. Imports from China surged 30% to $7.8 billion while exports barely grew. The non-petroleum trade deficit ballooned from $335 million to $1.9 billion. Here's what the numbers actually show.
Your IESS pension isn't based on your last salary or years of service alone — it's calculated from the average of your five highest-earning years. If your employer has been under-reporting your salary, you won't find out until retirement. Here's how the formula works.
The Superintendencia de Bancos just published a list of 14 unlicensed organizations illegally collecting money from the public. They promise high returns in short timeframes. Last year alone, 60 similar entities were detected.
Ecuador's tariff on Colombian goods jumps from 50% to 100% on May 1, effectively shutting down $2 billion in annual trade. Truck traffic at Rumichaca has already dropped to 30-40% of normal. Sugar, medical supplies, and medications are all on the list.
