In 1998, Ecuador was a South American nation located on the western coast of the continent. It had an area of 256,370 square kilometers and a population of around 12 million people. The majority of the population were descendants of Native South Americans and Spanish settlers who had inhabited the country for centuries prior to colonization. Spanish was the official language, but many indigenous languages were also spoken. The predominant religion was Roman Catholicism, with most people belonging to either the Roman Catholic or Protestant denominations. See dentistrymyth for Ecuador in the year of 2015.
The economy of Ecuador in 1998 was largely dependent on agriculture and oil production, with bananas and cocoa being important export crops while petroleum products accounted for nearly half of all exports. Tourism also played a role in employment and economic growth, with many visitors attracted to its tropical climate, diverse wildlife, and historic sites such as Quito’s Old Town. Manufacturing and industry were limited due to lack of resources such as capital and infrastructure. Education levels were low in 1998 with only about half of school-aged children attending school regularly due to poverty levels within rural areas. Access to healthcare was also limited due to a lack of resources, though some government-funded health centers did exist in larger towns or cities.
Yearbook 1998
Ecuador. On July 12, a new president was elected: Jamil Mahuad, the capital of Quito’s mayor and representative of the Christian Democratic Center Party Democracia Popular (DP). He replaced the incumbent President Fabián Alarcón, who was interim appointed in February 1997 when then-President Abdalá Bucaram was deposed for alleged mental inadequacy. After the first round of elections on May 31, two main candidates had been crystallized, but none with their own majority: Jamil Mahuad, who got 36.7% of the vote, and plantation owner Alvaro Noboa, who represented the right-wing populist Partido Roldosista Ecuatoriano (PRE) and got 29.7%. In January, the PRE nominated President Bucaram for his nomination, but the nomination was rejected by Ecuador’s Law Council, which adopted an addition to the Constitution.
After the second round of elections on July 12, Mahuad won the election by a small majority, 51.2% of the vote against Noboa’s 48.2%. The turnout was 70%. Noboa, however, did not want to admit defeat, but blamed the winning side for electoral fraud, which was rejected by international observers. Mahuad took office on August 10.
During the year, negotiations on the border crossing between Ecuador and neighboring Peru continued in 1995. At the beginning of the year, a timetable for the continued negotiations was signed and a commission to lead the work was appointed. However, relations cooled considerably when two Peruvian soldiers were injured in late July by a mine in the border area. Peru accused Ecuador of deploying the mine while Ecuador countered with counter-accusations of Peruvian troops moving in the area. According to Countryaah, the capital of Ecuador is Quito. Peru’s President Alberto Fujimori canceled a planned state visit to Ecuador in connection with Jamil Mahuad’s presidential installation. In mid-August, representatives of the countries could agree to create a demilitarized zone between them and to resume border negotiations. Argentina, Brazil, Chile and the United States were selected as mediators, i.e. the same countries that had mediated in 1942 when the previous border agreement between Ecuador and Peru was signed. At the end of October, both Presidents Alberto Fujimori and Jamil Mahuad were able to sign a new border agreement.
Ecuador is one of the countries most affected by the weather phenomenon of El Niño ravages. Damage from the violent rainfall and subsequent floods and landslides that hit the country at the end of 1997, according to government estimates, would cost more than SEK 15 billion. to fix.
- Abbreviationfinder: What does ECU stand for in geography? Here, this 3 letter acronym refers to the country of Ecuador.
Economy
| Inflation rate | 0.40% |
| Unemployment rate | 4.6% |
| Gross domestic product (GDP) | 193,000,000,000 USD |
| GDP growth rate | 2.40% |
| GDP per capita | $ 11,500 |
| GDP by sector | |
| Agriculture | 6.70% |
| Industry | 32.90% |
| Service | 60.40% |
| State budget | |
| Revenue | 11.26 billion |
| Expenditure | 9.928 billion |
| Proportion of the population below the national poverty line | 25.6% |
| Distribution of household income | |
| Top 10% | 38.3 |
| Lower 10% | 1.4 |
| Industrial production growth rate | -3.20% |
| Investment volume | 22.2% of GDP |
| National debt | 45.40% of GDP |
| Foreign exchange reserves | 3,935,000,000 USD |
| Tourism | 2014 |
| Visitors | 1,557,000 |
| Revenue | $ 1,487,000,000 |
