Ecuador

In 1941 a territorial conflict started between Ecuador and Peru which led to the "Protocolo de Rio de Janeiro" signed in January 29, 1942. Still several wars between the two countries carried on until October 26, 1999 when presidents Jamil Mahuad (Ecuador) and Alberto Fujimori (Peru) signed the "Acta de Brasilia". Peru gave 1 square-kilometer (called "Tiwintza") to Ecuador inside its territory where 14 soldiers are buried; also both countries signed commerce and navigation agreements in which Ecuador have unrestricted navigation rights on the Amazon river.

Politics

Main article: Politics of Ecuador

On November 24, 2002, Lucio Gutiérrez won the presidential elections. He became president on January 15, 2003.

Provinces

see Provinces of Ecuador

Geography

Main article: Geography of Ecuador

The capital is Quito and the largest city is Guayaquil.

Economy

Main article: Economy of Ecuador

Gustavo Noboa, who assumed the presidency in January 2000, has managed to pass substantial economic reforms and mend relations with international financial institutions. Ecuador completed its first standby agreement since 1986 when the IMF Board approved a 10 December 2001 disbursement of $96 million, the final installment of a $300 million standby credit agreement. In February 2003, newly installed president Lucio Gutierrez faced a budget gap and massive foreign debt. He has pledged to use oil revenues to pay off debt and is seeking additional IMF support.