To achieve this, three things are essential: evidence-based decision. What's he waiting for? 1934 - Dr Jose Maria Velasco Ibarra is elected president. In 2016, it was 23.90%. Even though enrolment to primary schools is over 95%, about 25% of children drop out before getting to the sixth grade. In Ecuador, there isnt much information on vocational training. Ecuador is among the worlds biggest exporters of bananas. It is friendly to tourists and ex-pats. In 2017, about 8.7% of the population earned less than $3.20 per day. Projects currently being designed will be submitted to the World Banks Board of Directors before June 30, 2020. Countries that were politically neutral during the cold war were called the third world. )exports: 0 cubic meters (2021 est. health care and education, seriously tackling chronic child malnutrition, upgrading public safety and strengthening the justice system. Otavalo Market is a popular attraction for many tourists. Continue with Recommended Cookies. In summary, Ecuador is a third-world country. )subscriptions per 100 inhabitants: 88 (2020 est. Spanish (Castilian) 93% (official), Quechua 4.1%, other indigenous 0.7%, foreign 2.2%; note - (Quechua and Shuar are official languages of intercultural relations; other indigenous languages are in official use by indigenous peoples in the areas they inhabit) (2010 est. )permanent crops: 5.6% (2018 est. ), $29.325 billion (2021 est.) 1531 - Spanish troops led by Francisco Pizarro land on Ecuadoran coast en route to Peru, where they defeat the Incas. According to the Multiple Indicator Cluster Surveys (MICS), the infant mortality rate in Ecuador was ranked 45 out of 84 in 2018. Read Also: Is Kenya a Third World Country? )transmission/distribution losses: 4.303 billion kWh (2019 est. Between 1904 and 1942, Ecuador lost territories in a series of conflicts with its neighbors. Fitch rating: B- (2020)Moody's rating: Caa3 (2020)Standard & Poors rating: B- (2020)note: The year refers to the year in which the current credit rating was first obtained. Gross National Income (GNI) per capita is a comparison tool used by the World Bank to measure a nations development level. To this end, it provided technical assistance to the National Statistics and Census Institute to publish water, sanitation and hygiene indicators for the first time in Ecuador. There are 130 different kinds of hummingbirds in Ecuador. We and our partners use cookies to Store and/or access information on a device. )imports: 0 cubic meters (2021 est. The World Bank Group works in every major area of development. It is also known for being the capital city closest to the Equator. Moreover, research in Ecuador by the renowned naturalists Alexander . These projects focus on increasing access to better quality services and to improving infrastructure in transportation, water, sanitation. For example, going by the historical definition, nations such as Finland, Sweden, Ireland, and Switzerland were not aligned with either NATO or the Communist Bloc, and so were Third World countries. Well, thats not surprising unless you didnt know that Ecuador is the worlds largest exporter of bananas. However, the Spanish spoken in Ecuador has three variants: Amazon, Andean, and Equatorial Coastal Spanish. Theyre mainly found in the northwestern coastal region of Ecuador. A border war with Peru that flared in 1995 was resolved in 1999. Ecuador has amazing people, plenty of attractions, and a stable government. The poverty rates vary depending on the region. Traditionally a farming country, Ecuador's economy was transformed after the 1960s by the growth of industry and the discovery of oil. Even though Ecuador is an amazing country, I think it has a few problems. Third World Meaning The Third world comprises economically developing or underdeveloped countries. Ecuador is an upper middle-income economy with a GNI per capita of $5,930. According to Forbes, Ecuador is among the cheapest countries to live in. 1947-1991)but once the Soviet Union crumbled in 1991, the term "second world" took on a new meaning. Ecuador has been receiving a huge influx of Venezuelan exiles, many passing through to other countries. An estimated 2 to 3 million Ecuadorians live abroad, but increased unemployment in key receiving countries - Spain, the United States, and Italy - is slowing emigration and increasing the likelihood of returnees to Ecuador. 70% of rural dwellers lived in poverty. You can easily find indigenous textiles and clothing in the town. The Republic of Ecuador is in South America. Two years later, amid a financial crisis, Velasco suspends the constitution and rules by decree. The Top Cocoa Producing Countries In The World. It was 13. It has improved greatly since the beginning of the 21st century. )-0.34% (2020 est. But that is not all. They were majorly countries in Africa, the Middle East, Latin America, Asia, and some European countries like Switzerland, Finland, and Austria. Two provinces have the largest number of media outlets: Guayas has 172 media outlets and Pichincha has 130 media outlets. Most countries have a nation-wide minimum wage that all workers must be paid. This capital city of Ecuador is famed for the historic buildings and monuments standing in the city center. Those who violate the law may face a prison sentence. Ecuador has a 137-seat unicameral National Assembly, with 116 members directly elected, 15 elected by proportional representation, and 6 elected through multiseat constituencies for Ecuadorians living abroad; members serve four-year terms. Some analysts have suggested the country is on the edge of becoming a narco-state. )government consumption: 14.4% (2017 est. In 2016, it approved an investment operation to raise enrolment and permanence of students in public technical and technological institutes designed and implemented in collaboration with employers, and to strengthen institutional management of technical and technological tertiary education (USD90.5million). The work areas and objectives established in the 2019-2023 CPF are interrelated and complementary. ), $50.667 billion (2019 est. Ecuador also needs to promote inclusive growth that can be sustained over the medium to long term. The territories of the Viceroyalty - New Granada (Colombia), Venezuela, and Quito - gained their independence between 1819 and 1822 and formed a federation known as Gran Colombia. note: data are in current year dollars$19.877 billion (2020 est.) Age structure 0-14 years: 25.82% (male 2,226,240/female 2,138,219) 15-24 years: 17.8% (male 1,531,545/female 1,478,222) 25-54 years: 40.31% (male 3,333,650/female 3,480,262) These African-Ecuadorians are descendants of African slaves shipped to Ecuador by Spanish colonists. Third World countries were those neutral countries not aligned with either power. )crude oil and lease condensate exports: 349,400 bbl/day (2018 est. On June 11, 2019, the World Bank Board of Directors approved the 2019-2023 Country Partnership Framework (CPF) with Ecuador. )exports: 1.826 billion kWh (2019 est. )imports: 6 million kWh (2019 est. )wind: 0.2% of total installed capacity (2020 est. The government consists of five arms; the judicial branch, the executive, the electoral branch, the legislative branch, and the Transparency and Social Control. Read about our approach to external linking. Additionally, these countries have lower living standards concerning health, education, and quality of life. ), 45.4% of GDP (2017 est. ), women married by age 15: 3.8%women married by age 18: 22.2% (2018 est. )nuclear: 0% of total installed capacity (2020 est. From July 2013 to June 2015, the World Bank portfolio included three operations (USD407.5million) requested by the sub-national governments of Manta, Quito and Guayaquil. Even then, you can never be assured of 100% safety. Ecuador is an upper middle-income economy with a GNI per capita of $5,930. a funding and technical assistance program to support the countrys development and growth efforts. Source: https://hdr.undp.org/data-center/human-development-index#/indicies/HDI. To drive economic growth, the government of Ecuador is gravitating toward private sector investment. ), total subscriptions: 2,063,044 (2020)subscriptions per 100 inhabitants: 12 (2020 est. The stability of Ecuadors economy depends on its economy. It was used to describe nations of the world that had no political alignment either with NATO or the Communist Bloc during the cold war. Long the heartland of a series of native Andean civilisations, it was taken over by the Peru-centred Inca Empire in the 15th Century, and then Spanish conquerors a century later. ), general assessment: Ecuador has a small telecom market dominated by the mobile sector; the evolution of the market has been influenced by the poor fixed-line infrastructure, which has stymied the development of fixed-line broadband services; to some extent poor infrastructure has been the result of topographical challenges which have rendered the cost of deploying networks to remote and mountainous areas prohibitive; although Ecuador has several fixed-line operators and a large number of ISPs, the state-owned incumbent leads the fixed-line market, and thus also the fixed broadband market; thus far the MVNO sector has been slow to develop, partly because the incumbent operators also have their low-cost brands and thus there is little business case for new market entrants; the government is keen to advance and improve teledensity; from 2022, additional revenue will be earmarked for programs aimed at expanding the reach of internet and mobile services in rural areas of the country; Ecuador lacks a national 5G roadmap; the mobile operators have conducted several 5G pilots, but no progress has been made on allocation spectrum for 5G, or on developing strategies to encourage investment in the sector (2022)domestic: according to 2021 statistics from the Ministry of Telecommunications and Information Society, 50 percent of Ecuadorian homes do not have access to fixed internet; Ecuadors telecoms regulator is currently evaluating and reorganizing the 3.5GHz, 2.5 GHz, 700 MHz and AWS spectrum for future government tenders; 2G/3G technologies have a 91.11 percent of penetration and 4G technologies has 60.74 percent (2021); fixed-line teledensity is about 12 per 100 persons; mobile-cellular service with a subscribership of nearly 88 per 100 persons (2021)international: country code - 593; landing points for the SPSC (Mistral Submarine Cable), Panamerican Cable System (PAN-AM), Pacific Caribbean Cable System (PCCS), America Movil-Telxius West Coast Cable and SAm-1 submarine (SAm-1) cables that provide links to South and Central America, and extending onward to the Caribbean and the US; satellite earth station - 1 Intelsat (Atlantic Ocean) (2019)note: the COVID-19 pandemic continues to have a significant impact on production and supply chains globally; since 2020, some aspects of the telecom sector have experienced a downturn, particularly in mobile device production; progress toward 5G implementation has resumed, as well as upgrades to infrastructure; consumer spending on telecom services has increased due to the surge in demand for capacity and bandwidth; the crucial nature of telecom services as a tool for work and school from home is still evident, and the spike in this area has seen growth opportunities for development of new tools and increased services. 100 % safety for being the capital city closest to the World Bank Board of Directors approved the 2019-2023 Partnership. 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