Yet just over a decade ago things were very different. Then a massive banking crisis caused economic collapse. Unemployment rocketed and one in ten people left their country to escape the crisis.
Ecuador’s Citizen’s Revolution – led by President Rafael Correa – has changed all this. Ecuador is today experiencing strong economic growth and even during the global economic crisis, there was no recession in Ecuador. Ecuador now has the lowest unemployment rate in its history.
Challenging the ideas behind austerity economics, a huge programme of public investment is driving Ecuador’s economic growth and building a more inclusive society. Four times more is spent on health and education than a decade ago after Ecuador scrapped the illegal debt owed to international financial agencies and devoted this instead to public services.
Ordinary people are benefiting from all this change. Ecuador has reduced reducing inequality faster than any other Latin America country in recent years through measures to ensure that wealthiest can no longer avoid paying taxes and by creating a nationwide Living Wage.
As a result, the United Nations ranks Ecuador as one of the three countries in the world that has most advanced human development in recent years.
All these changes are popular with President Correa and his coalition of supporters winning 10 sets of elections since 2007.
Come and find out more about how Ecuador shows there is an alternative:
With Andrés Arauz, Ecuadorian Vice Minister responsible for economic and social development
When: Thursday 26th June at 7pm
Venue: Unite the Union, 128 Theobalds Rd, London WC1X 8TN (Nearest tube Holborn)
To register click here.