Part 250

Suffrage: 18 years of age; universal, compulsory for literate persons ages 18-65, optional for other eligible voters

Executive branch: chief of state: President Fabian ALARCON Rivera (since 11 February 1997); Vice President Rosalia ARTEAGA Serrano de Cordova (since 10 August 1996); note - the president is both the chief of state and head of government head of government: President Fabian ALARCON Rivera (since 11 February 1997); Vice President Rosalia ARTEAGA Serrano de Cordova (since 10 August 1996); note - the president is both the chief of state and head of government note : in an unusual, out of cycle change in executive power, Congress on 11 February 1997 elected then Congress President ALARCON to be Interim President until August 1998 after ousting former President BUCARAM because of "mental incapacity;" ARTEAGA remained vice president cabinet : Cabinet appointed by the president elections: president and vice president elected on the same ticket by popular vote for four-year terms; election last held 19 May 1996; runoff election held 7 July 1996; note - because of the February 1997 unusual change in executive power, the next presidential elections will take place in 1998 election results : runoff election; percent of vote - Abdala BUCARAM Ortiz 54%, Jaime NEBOT 46%; note - in February 1997, Congress elected ALARCON to be Interim President until August 1998, with 57 of 82 Congressmen voting in favor of him

Legislative branch: unicameral National Congress or Congreso Nacional (82 seats; 12 members are popularly elected at large nationally to serve four-year terms; 70 members are popularly elected by province for two-year terms) elections : last held 19 May 1996 (next to be held 1998) election results: percent of vote by party - NA; seats by party - PSC 27, PRE 19, DP 12, P-NP 8, ID 4, FRA 3, MPD 2, PCE 2, CFP 1, independents and other 4; note - defections by members of congress are commonplace, resulting in frequent changes in the numbers of seats held by the various parties

Judicial branch: Supreme Court (Corte Suprema), judges are elected by Congress

Political parties and leaders: Center-Right parties: Social Christian Party or PSC [Jaime NEBOT Saadi, president]; Ecuadorian Conservative Party or PCE [Freddy BRAVO] Center-Left parties: Democratic Left or ID [Rodrigo BORJA Cevallos, leader]; Popular Democracy or DP [Jamil MAHUAD, leader]; Radical Alfarista Front or FRA [Fabian ALARCON, director] Populist parties: Roldosist Party or PRE [Abdala BUCARAM Ortiz, director]; Concentration of Popular Forces or CFP [Averroes BUCARAM, leader]; Popular Revolutionary Action or APRE [Frank VARGAS Passos, leader]; Pachakutik-New Country or P-NP [Freddy EHLERS] Far-Left parties: Popular Democratic Movement or MPD [Juan Jose CASTELLO, leader]

International organization participation: AG, ECLAC, FAO, G-11, G-77, IADB, IAEA, IBRD, ICAO, ICC, ICFTU, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, Intelsat, Interpol, IOC, IOM, ISO, ITU, LAES, LAIA, NAM, OAS, OPANAL, PCA, RG, UN, UNCTAD, UNESCO, UNIDO, UPU, WCL, WFTU, WHO, WIPO, WMO, WToO, WTrO

Diplomatic representation in the US: chief of mission : Ambassador (vacant); Charge d'Affaires Fernando FLORES chancery: 2535 15th Street NW, Washington, DC 20009 telephone: (202) 234-7200 consulate(s) general: Chicago, Houston, Los Angeles, Miami, New Orleans, New York, Philadelphia, and San Francisco consulate(s): Newark

Diplomatic representation from the US: chief of mission: Ambassador Leslie ALEXANDER embassy: Avenida 12 de Octubre and Avenida Patria, Quito mailing address: APO AA 34039 telephone : (2) 562-890 FAX: (2) 502-052 consulate(s) general: Guayaquil

Flag description: three horizontal bands of yellow (top, double width), blue, and red with the coat of arms superimposed at the center of the flag; similar to the flag of Colombia that is shorter and does not bear a coat of arms

Economy

Economy - overview: Ecuador has substantial oil resources and rich agricultural areas. As an exporter of primary products such as oil, bananas, and shrimp, fluctuations in world market prices can have a substantial domestic impact. Growth has been uneven in recent years as the government has repeatedly initiated ill-conceived fiscal stabilization measures. The populist government of Abdala BUCARAM Ortiz proposed a major currency reform in 1996, but popular discontent with new austerity measures and rampant official corruption undermined his government's position. Congress replaced BUCARAM with Fabian ALARCON in February 1997. ALARCON has adopted a minimalist economic program that puts off major decisions until the next elected government takes office in August 1998. Ecuador has joined the Word Trade Organization in 1996, but has failed to comply with many of its accession commitments. Growth slowed to 2.0% in 1996, due to a lack of investment caused by political uncertainty and high domestic interest rates.

GDP: purchasing power parity - $47 billion (1996 est.)

GDP - real growth rate: 2% (1996 est.)

GDP - per capita: purchasing power parity - $4,100 (1996 est.)

GDP - composition by sector: agriculture : 13% industry: 38% services: 49% (1996 est.)

Inflation rate - consumer price index: 26% (1996)

Labor force: total: 3.4 million by occupation: agriculture 29%, manufacturing 18%, commerce 15%, services and other activities 38% (1990)

Unemployment rate: 8.5% with widespread underemployment (1996 est.)

Budget: revenues: $3.6 billion (1997) expenditures: $3.6 billion, including capital expenditures of $NA (1996 est.)

Industries: petroleum, food processing, textiles, metal work, paper products, wood products, chemicals, plastics, fishing, lumber

Industrial production growth rate: 3.3% (1996 est.)

Electricity - capacity: 2.754 million kW (1996)

Electricity - production: 9.27 billion kWh (1996)

Electricity - consumption per capita: 600 kWh (1996)

Agriculture - products: bananas, coffee, cocoa, rice, potatoes, manioc, plantains, sugarcane; cattle, sheep, pigs, beef, pork, dairy products; balsa wood; fish, shrimp

Exports: total value: $4.9 billion (f.o.b., 1996) commodities: petroleum 37%, bananas 20%, shrimp 13%, cocoa 2%, coffee 3% partners : US 39%, Latin America 25%, EU countries 22%, Asia 12%

Imports: total value: $3.7 billion (c.i.f., 1995) commodities: transport equipment, consumer goods, vehicles, machinery, chemicals partners: US 32%, EU 19%, Latin America 35%, Asia 11%

Debt - external: $12.6 billion (1996)