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Referendum Boost Opens Ecuador to Fiscal Rebalancing

Last summer the investor community lamented the election of Lenin Moreno as Ecuador’s new president, anticipating “more of the same” from ex-leader Rafael Correa’s long-time ally and protégé. In calling for a referendum on term limits, however, Moreno appears to have delivered an unexpected blow to his predecessor’s comeback plans. Now it is time to address the fiscal “elephant in the room”.

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