Articles
Business intelligence and analysis on Ecuador
Bloque de Seguridad Militarizes Puerto Bolívar; 1,600-House Sweep Targets Drug Networks at Ecuador's Banana Export Hub
On May 14, 2026, Ecuador deployed its Bloque de Seguridad joint operation to Puerto Bolívar in El Oro province, with plans to search approximately 1,600 houses over the next three days. The port is a top channel for Ecuador's banana exports and has also been identified as a major cocaine transit point.
Ecuador and Morocco Sign JETCO Memorandum to Establish Joint Economic Committee; First Meeting in June, Business Council in Quito in September
Ecuador signed a memorandum with Morocco on May 12 establishing a Joint Economic and Commercial Committee (JETCO), with the inaugural session scheduled for June 2026 and a follow-on bilateral business council convening in Quito in September.
Plan Credicasa Delivers 125 Homes on May 12 at 2.99% Biess Mortgage Rate; $15M in Total Disbursements Across 300+ Loans
Ecuador's Plan Credicasa housing program delivered 125 additional homes on May 12, financed at 2.99% through Biess and developed in partnership with Ambiensa. The program has processed over 300 disbursements totaling $15 million, with 1,300+ pending applications nationally and 478 from Guayas province alone.
Ecuador's UAFE Launches Regional Anti-Money-Laundering Operation with Colombia and Peru; Quito, Guayaquil Airports, Huaquillas and Rumichaca Borders Targeted
Ecuador's Financial Analysis Unit (UAFE) activated its first regional anti-money-laundering operation of 2026 in coordination with Colombian and Peruvian counterparts, targeting the Quito and Guayaquil international airports and the Huaquillas and Rumichaca land borders.
Esmeraldas Refinery at 33-40% Capacity With FCC Unit Offline; Ecuador Now Imports 65% of Fuel Demand
Ecuador's Esmeraldas refinery is operating at 33-40% of its 110,000 bbl/d capacity with the critical FCC unit offline, forcing the country to import 65% of fuel demand. Diesel broke the $3/gallon threshold for the first time on May 12. Petroecuador targets an FCC restart on May 15.
Ecuador Banking Sector Posts $305M in Profits Through April; Credit Portfolio Reaches $53.4B at 12.8% Annual Growth
Ecuador's private banking sector recorded $305 million in combined profits through April 2026, with the total credit portfolio reaching $53.4 billion — a 12.8% annual increase. Deposits grew 13.4% to $62.7 billion. ROE hit 14%, surpassing pre-pandemic levels for the first time.
Government Expands 7x7 Credit Program by $100M, Opens BanEcuador Lending to Artisanal Fishers for First Time
Ecuador allocated an additional $100 million to the Crédito Productivo 7x7 program through BanEcuador, extending eligibility to artisanal fishers for the first time. The first phase distributed $100M across 9,341 operations. An estimated 11,500 fishers with 7,500 vessels are now eligible.
Ecuador's $1B May Bond Placement Drew $7B in Demand; Country Risk at 404 Points — Lowest Since 2014
Ecuador placed $1 billion in sovereign bonds on May 6 at an 8.5% annual rate, drawing $7 billion in demand from 200 international investors — a 7x oversubscription. Country risk has fallen from 1,908 points in April 2025 to 404 today, restoring market access after seven years.
Caso Progen: Judicial Documents Trace $110M Through Personal Accounts — 21 Individuals Face Embezzlement Charges May 14
Judicial documents in the Progen case reveal that USD 110 million in advance payments for 49 thermoelectric generators — none of which became operational — were distributed through personal accounts at the Federal Reserve and Regions Bank. Charges against 21 individuals are scheduled for May 14.
Aeropuerto de Cancún Acquires Indirect Control of Quiport Through Motiva Stake Purchase; Regulator Approves
Ecuador's Superintendencia de Competencia Económica approved the acquisition by Aeropuerto de Cancún S.A. de C.V. of 100% of Brazilian company Motiva's shares, granting the Mexican group indirect control of Corporación Quiport — operator of Quito's Mariscal Sucre International Airport.
Mother's Day Flower Exports Hit Record 24,800 MT (+16%); Quito Airport Rises to 4th in LatAm Cargo Rankings
Ecuador's Mother's Day flower export season set a new record at 24,800 metric tons over 21 days — a 16% increase over 2025. Avianca Cargo reported 55% growth in Ecuador operations. Quito's Mariscal Sucre airport climbed to 4th in Latin American cargo rankings.
CAN Resolution 2582 Orders Ecuador-Colombia Tariff Withdrawal Within 10 Business Days; Colombian Exports Already Down 60%
The Andean Community issued Resolution 2582 on May 7, ordering Ecuador and Colombia to withdraw reciprocal tariffs within 10 business days. The ruling declares both countries' measures incompatible with the Cartagena Agreement. With Ecuador's rate at 75% and Colombian exports down 60% through March, industry leaders on both sides call current conditions unsustainable.