Ecuador Living

Hi Gary,

I don’t know how that typo came into being (Ralph or Raul would have been more understandable!) but somehow El Presidente has been renamed Dale! This typo is in two places. See below in the summary of the Political Tension article (I changed it to red so you can find it easily), as well as on page three of your article.  

Best wishes,

Jennifer

My reply to the reader below helps clarify Correa’s name.

Please excuse my lack of clarity.

Rafael Vicente Correa Delgado is President of Ecuador and often referred to in Ecuador as called Dale Correa.

The words Dale Correa means “give them the leather belt” and he used this concept and play on words when running for President sayings that he was going to give the old order the belt and drive them out.

Here is what the Spanish translation literally says:

Hence the emergence of a Dale joke in Ecuador… I assume similar to Bama jokes about the President of the USA.

I should have been aware that those who are not involved in daily Ecuador life and who do not know Spanish would know these facts and could be confused and worried. I hope you did not let this minutiae cause you to miss the theme of the message.  Regards.

Saturday’s message New Sucre in Ecuador shared an important political fact… Correa… like President Obama came to office with a strong  mandate because he promised to bring great change to the system… “Dale Correa.” Now the Ecuadorian people have lost their confidence or hope (like in America) as the politics seem to remain the same.  This article and another;

An excerpt in the Wall Street Journal entitled: “Ecuador Government Fails To Pass Monetary Law, For Now” by Mercedes Alvaro shows how Correa has not be so good at “Dah laying” with de bolso after all. This article says:  Ecuadorean President Rafael Correa’s party failed to garner enough votes in Congress to pass a controversial monetary reform bill that would give the central bank the use of deposits to fund investment projects, but it hasn’t given up on the plan.

Correa’s party, Alianza Pais, secured only 59 votes Tuesday, four short of the 63 needed to pass laws in the 124-seat legislature. The failure is Correa’s second recent congressional defeat, after the party was unable to get enough votes in May for a bill to overhaul water usage. He is also struggling to find sufficient backing for communications and education bills.

The president of the legislature, Fernando Cordero, a member of the government party, plans to present the monetary policy reform bill again next week for another vote, since the opposition also lacked sufficient votes to bury it. Some analysts fear the bill, if passed, could compromise the country’s financial stability.  The proposed law suggests the central bank could invest directly in state-owned banks, and would also be allowed to provide liquidity to institutions “with some questionable lending policies and high non-performing loan ratios,” Crespo said. The reforms would also allow the central bank to invest directly in debt issued by local companies, debt that wouldn’t have to be listed on a stock exchange.

Correa’s administration has been rattled by the recent protests against several of its proposed laws, including proposals on hydrocarbons reform, communications, and university education. On Wednesday, Cordero suspended a session to vote on the universities bill amid protests by opposition lawmakers.

Perhaps we are returning to the old system Merri and I were familiar with for the first decade plus we were in Ecuador… where the people rejected presidents quite often.

Gary

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Read the Wall Street Journal’s Ecuador Government Fails To Pass Monetary Law, For Now