Ecuador’s President, Daniel Noboa, called the electorate to the ballots on a National Referendum. The eleven questions established for this political process were in two main fields: security and labor market reforms. The Referendum took place on April 21, 2024. The official results of the National Referendum are that in 9 out 11 yes-no-questions the Ecuador’s electorate gave the option of Yes a majoritarian support to the Administration’s plans. However, two questions the support leaned towards No; those questions main focus was on reforms to labor and foreign investment. The following graph show the results of the Referendum. Graph 1 Results of the National Referendum Source: CNE (National Electorate Council for it acronym in Spanish) In the graphs, question D (3) stated that: Do you agree that the Ecuadorian State should recognize international arbitration as a method for resolving disputes in investment, contractual, or commercial matters? The final result is that the 6
The expression “the Hair of the Dog” comes to mind when someone tries to understand Ecuador’s current economic affairs. The definition of that coloquial phrase, according to Dictionary.com, is the following: “A morning drink may be the last thing you want after a night of boozing , but that’s exactly what this quirky English expression means. Originally, the expression referred to a method of treating a rabid dog bite; hair from the dog was placed in the wound. So in that sense, having another drink (any drink) is like taking hair from the dog that bit you.” (Where Did the Strange Expression “Hair of the Dog” Come From?, 2020) President Noboa is reaching its 90 th day in Office. However, in this short period of time his administration has faced two main issues. The first it is the security control problems due to the presence of drug cartels and systematic corruption in all layers of the political and judicial systems. The second trouble is the economic situation of the coun