Daily coverage from across the country, written for the expat community
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Ecuador now has 393 institutions in the popular-and-solidarity finance market, including 387 savings and credit cooperatives. Segment 1 cooperatives hold more than $24.6 billion in assets, about 31% of private-bank assets, and the largest cooperatives now rank among the country's biggest financial institutions.
Monthly inflation reached 0.53% in April 2026, driven mainly by transport costs, with annual inflation at 2.6%. Meanwhile Ecuador's tariff on Colombian goods escalated to 100% on May 1. What it means for anyone living here on a fixed or foreign income.
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.
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.
President Noboa signed Decreto 368 cutting the tourism IVA from 15% to 8% for the May Day long weekend (April 30–May 3). Hotels, restaurants, car rentals, and travel agencies all qualify. Here's how it works.
A Trans Esmeraldas interprovincial bus overturned on the E20 highway during Semana Santa travel, injuring more than 20 passengers. A separate crash in Colta killed 2. The incidents underscore the persistent dangers of Ecuador's highway system during peak holiday travel periods.
Friday April 3 is a mandatory national holiday in Ecuador. Banks are closed through Sunday, government offices shut down, but supermarkets and pharmacies stay open. President Noboa's VAT reduction to 8% on tourism services kicks in for the long weekend.
Ecuador returned to international capital markets in January 2026 for the first time since its 2020 debt restructuring, selling $4 billion in sovereign bonds across two tranches. The move included a $3 billion debt buy-back and sent country risk plummeting from over 2,000 points to 460.
Ecuador's Semana Santa holiday runs April 3-5 with Good Friday as a national holiday. Banks and government offices close, IVA drops to 8% for tourism, and major processions take place across Quito, Guayaquil, Cuenca, and Riobamba. Here's your practical guide.
Executive Decree 348 temporarily reduces Ecuador's IVA from 15% to 8% for tourism services from April 3-5 during Semana Santa. The cut covers accommodation, food and beverage, tourist transport, travel agencies, and ecotourism operations.
LATAM Ecuador launched the first-ever direct flight from Cuenca to the Galapagos Islands on March 31. The twice-weekly Airbus A319 service starts at $310 round-trip and eliminates the need for an overnight layover in Quito or Guayaquil.
