Topic: EconomicsCurrency

Last updated: September 13, 2019

The country is also known to have a tropical side with the Galapagos Islands in the Pacific west. On top of all the different geographical phenomenon in Ecuador, the country is home to one of the World’s most “active volcanoes,” according to Michigan State University. Environmental threats in Ecuador include volcanoes, tsunamis and earthquakes. These things can tamper with flights too and from Ecuador and transportation.

Ecuador has a population of approximately 16,032,300 and is still growing. The capital of Ecuador, Quito, is home to more than 1. 5 million and increasing detailed.

The country’s largest city is Quailing. Along with all of the mountains and islands, Ecuador is located directly on the equator. Ecuador has two seasons, dry and wet.

The country is very different from the united States in that Ecuador season is based of their agriculture. Depending on what crops or exports that are being grown and shipped, depends on what the rain cycle is like in Ecuador. Wet season is typically from September to March, and dry season is typically from April to August. With little alteration, the temperature in Ecuador is 78 degrees at the gig for the day and ass at dusk and dawn.Agriculture is the main sector of Ecuador economy. Ecuador main crops that are exported are beans, rice, bananas, barley, maize and sugar. Even though Ecuador main economic activity is due to agriculture, only 1 1% of the land is arable, meaning able to grow and raise crops and 18% is permanent pasture for livestock or wheat growing purposes.

Ecuador is the world’s leader in banana exports. For awhile, Ecuador was big in the oil business until oil prices significantly decreased and put Ecuador into a state of emergency in 1982.Eventually due to the economically depressed country, Ecuador left OPEC or Organization of the Petroleum Exporting Countries. Ecuador is dependent on oil and only has a few investors therefore their economy is weaker than it could be.

Since the first Oil discoveries in the country, it has been praised as the engine of Ecuador economic growth during price booms and blamed as a hindrance during busts. Oil rents have nurtured horizontal redistributive policies together with regressive consumption subsidies, as well as much-needed public investment. The ;vow biggest countries that Ecuador sports to is the United States and China.Fun Fact about Ecuador: The United States imports 88% of their flowers from Ecuador.

Ecuador is known as a developing country, meaning unlike the United States of America, Ecuador is financially, agriculturally and technologically behind the leading countries, but it is being built up over the years. Economically, the cost of living in Ecuador is significantly cheaper and is 16th in the world as far as being one of the cheapest countries to live in according to travel blobs. One downside to living or going to Ecuador is taxes/tariffs on goods that are memorably higher than the Unites States.Living in Ecuador is significantly different for one that there is no air condition in the houses or apartments in Ecuador because of the constant temperature outside. But, Ecuador uses the United States currency status, as in they use our paper and coin money. In August of 2014, Ecuador released the announcement that they were in the process of moving to electronic banking. The new currency was approved at Ecuador National Assembly. The new currency will also go alongside their currency now, the United States dollar and will improve banking for Ecuadorian.

If this new currency is launched, 40% of Ecuadorian will now be able to afford banking. The national currency board for Ecuador announced that if they do succeed in bringing in this new currency then they will be on the road to getting rid of the US dollar as well as helping the money supply. Not all Ecuadorian have benefited equally from oil revenues. The traditionally dominant Spanish-descended elite gained far more than indigenous peoples and those of mixed descent. Ecuador is rich in history in how they became independent, and how their government came to be how it is now.According to the Pearson Education Institute, tribes in the northern highlands of Ecuador formed the Kingdom of Quito around 1000.

It was absorbed, by conquest and marriage, into the Inca Empire. Spanish conquistador Francisco Bizarre conquered the land in 1532, and throughout the 1 7th century a Spanish colony thrived by exploitation of the Indians. The first revolt against Spain occurred in 1809. In 1819, Ecuador joined Venezuela, Colombia, and Panama in a confederacy known as Greater Colombia. When Greater Colombia collapsed in 1 830, Ecuador became independent.Revolts and dictatorships followed; it had 48 presidents during the first 131 years of the republic. FORTY EIGHT PRESIDENTS. Conservatives ruled until the revolution of 1895 ushered in nearly a half century of Radical Liberal rule, during which the church was disestablished and freedom of worship, speech, and press was introduced.

Although it was under military rule in the 1 sass, the country did not experience the violence and repression characteristic Of other Latin American military regimes. Its last 30 years Of democracy, however, have been largely ineffectual because of a weak executive branch and a strong, fractious Congress.Peru invaded Ecuador in 1941 and seized a large tract of Ecuadorian territory in the disputed Amazon region. In 1981 and 1995 war broke out again. In May 1999, Ecuador and Peru signed a treaty ending the nearly 60-year border dispute. Now Ecuador is ruled by a President, and is a capitalist society. They are also a democracy where the Government is over the nation and state.

Ecuador had been caught in cycles of political instability, reflecting popular disillusionment with traditional power structures and weak institutions.Ecuador political parties eve historically been small, loose organizations that depend more on populist, often charismatic, leaders to retain support than on programs or ideology. Hint the 48 presidents earlier. President Chorea, Ecuador current president, is the longest standing president since Ecuador switch back to democracy.

He holds popularity throughout the region. Ecuador is apart of the United Nations and under the power of Chorea, the nation has tried to strengthen ties with surrounding countries like Columbia, Peru, Argentina and even countries in the Pacific I. E. El Salvador and Cuba.Sadly, 30% of the Ecuadorian population lives under the Ecuador poverty line. In many parts Of Ecuador, children are forced to work as domestic servants, street vendors, and beggars and some are forced to engage In criminal activity, such as drug trafficking and robbery. According to the United States Department of Labor, In 2013, Ecuador made a significant advancement in efforts to eliminate the worst forms of child labor. The Government also launched the Unified Child Labor Registration System (CURTIS) and prioritize eradicating child labor in agriculture as well as street begging.

However, child labor has not completely dissolved and Ecuador lack of resources causes children to still be used as child laborers and street beggars. Crime is a huge part of Ecuador. Pit-pocketing, bag slashing and many other minor but still critical crimes happen daily in Ecuador. This is due to the hefty flow Of drugs, sex trafficking and poverty rates in this Southern American region.

The police or safety monitors of this region are known for poor security. Major crimes are rarely convicted and the area is so populace that crimes happen daily and police can’t arrest every citizen caught pit- pocketing.The predominate religion in Ecuador is Roman Catholic. But today there are many beliefs spread through the country including many Christian belief systems. Many Ecuadorian now mix in their belief systems along with the Catholic ways. A traditional view in Ecuador is Pasha Mama or Mother Earth in English or the Virgin Mary.

Ecuador supports religious freedom, enabling all to worship and attend any religious institutes that they choose to support. Catholicism plays a big role in the schools in Ecuador because the catholic bible is taught as well as the academics.In almost every town square there is church. A very obvious mix Of Catholic and indigenous beliefs can be seen in the many festivals celebrated throughout the year.

One of these prominent days includes the Day of the Dead. “Many Ecuadorian, whether Catholic or Protestant, put much faith in local healers or shamans. These use ancient remedies passed down by their forefathers and magic to “heal” people. Ecuador religion has a strong hold on the people. They highly respect the Bible and the subject of religion isn’t a touchy one. People can be seen discussing their beliefs openly with Bible in hand.

(Life-in-Ecuador. Com) Ecuador official language is Span sis, which is spoken by 94 percent of the population; thirteen indigenous languages are also recognized, including Quiche and Shear. Many natives like the ones in the local markets, airports and hospitals have learned English but other than that many do not know other languages. The Indian tribes towards the north in the Andes Mountains primarily speak Quiche unless they are teaching Spanish amongst the schools. Overall, Ecuador is a beautiful country full of culture and breathtaking views and sites to see.

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