After the Ecuadorian
election
by Marc Becker
Lenín Moreno narrowly turned back a resurgent conservative
restoration in Ecuador’s April 2 presidential election. Rafael Correa’s former
vice president defeated the wealthy banker Guillermo Lasso by a slim margin of
51 percent to 49 percent.
In the campaign, Moreno vowed to continue Correa’s spending
on social programs including education, housing, and infrastructure that lifted
millions out of poverty.
Lasso, a member of the reactionary Catholic cult Opus Dei, pledged to
cut social spending, privatize healthcare and education, and slash taxes for
corporations. He also promised to create a million jobs, though his platform
lacked details on how he would do that or what kinds of jobs those would be.
Lasso was finance minster under Jamil Mahuad in 1999 whose
policies led to an economic crisis, the dollarization of the economy, and the
exodus of millions of Ecuadorians in search of employment. Lasso personally
benefited from the crisis, as he speculated on financial losses and moved
millions of dollars in ill-gotten wealth into offshore accounts in Panama and
elsewhere.

