Articles
Business intelligence and analysis on Ecuador
National Assembly Votes 148-0 to Censure Judiciary Chief Mario Godoy After Resignation Gambit Fails, Two-Year Public Office Ban Imposed
The National Assembly voted 148-0 to censure and dismiss Mario Godoy as president of the Consejo de la Judicatura, imposing a two-year ban on holding public office. Godoy resigned just one hour before the political trial was set to begin, but the Assembly proceeded regardless, citing allegations of 'manifest negligence' and pressure on an anticorruption judge to favor a detained Serbian narcotrafficker.
Noboa Unveils Anti-Extortion Plan With QR Code Business Monitoring System as 85% of Gang Leaders Captured but Judicial Bottleneck Stalls Prosecutions
President Daniel Noboa announced a comprehensive anti-extortion plan that includes a QR code-based monitoring system for small businesses, the sector most affected by organized crime. While noting that 85% of gang leaders have been captured since the internal armed conflict declaration, Noboa acknowledged a critical prosecution bottleneck: only 10,000 of 150,000 detained individuals have been judicially processed, prompting calls for judicial system restructuring.
Ecuador's $1.2 Billion Tuna Export Sector Faces Price Pressure as Abundant Yellowfin Catches Collide With Global Skipjack Scarcity and Thai Reference Pricing
Ecuador's tuna industry, the world's largest exporter at 17% of global trade and $1.2 billion in annual revenue, faces downward pricing pressure despite abundant yellowfin catches in the Eastern Pacific. Persistent global skipjack scarcity continues to allow Thailand to set reference prices, creating a two-speed market that compresses margins for Ecuadorian processors and fleet operators.
Consortium Named Top Bidder to Nearly Double Termogas Machala Capacity From 230 MW to 430 MW, Strengthening Grid After 2024 Blackout Crisis
A consortium has been identified as the top bidder to support the revamp and expansion of the Termogas Machala natural gas-fired power plant from 230 MW to 430 MW. The project, located in El Oro province on Ecuador's southern coast, will nearly double the plant's capacity using gas from the Amistad field in the Gulf of Guayaquil, providing critical baseload power as the country recovers from the 2024 energy crisis.
Corporacion America Airports Secures 6-Year Extension for Galapagos Seymour Airport Through 2032, Terminal Charge Rises to $31.18 Per Passenger
Corporacion America Airports secured a six-year extension for the Seymour Airport concession on Baltra Island, Galapagos, running through December 31, 2032. The Terminal Use Charge will increase by $5.20 to $31.18 per passenger, generating additional revenue for infrastructure improvements at the primary gateway to one of the world's most ecologically sensitive tourism destinations.
Two Free Trade Zones Now Operational in Guayas Province: ZOFRAPORT and Pascuales Offer 0% Income Tax for Five Years Under Economic Efficiency Law
Ecuador's two newest free trade zones in Guayas province — ZOFRAPORT at Posorja and Paseo Tablado at Pascuales — are now operational under the 2023 Economic Efficiency Law. Companies establishing operations within the zones pay 0% income tax for five years and a fixed 15% rate thereafter, as the government projects 180,000 direct and 500,000 indirect jobs from the national free zone program.
CNT and Nokia Launch Ecuador's First Commercial 5G Network With 422 Base Stations, National Coverage Targeted by Mid-2026
Ecuador's state telecommunications company CNT, in partnership with Nokia, has launched the country's first commercial 5G network. The rollout includes 422 base stations across Quito, Guayaquil, Cuenca, Ambato, Manta, and Santo Domingo, with national coverage targeted by mid-2026. Speeds reach up to 1.5 Gbps on the N78 (3.5 GHz) band.
Quito Metro Line 1 Northern Extension to La Ofelia Receives Environmental License: 5 km Underground Corridor, 4 New Stations, $80 Million CAF Financing
Ecuador's national environmental authority has granted the environmental license for the northern extension of Quito Metro Line 1. The project adds more than 5 km of underground tunnel and four new stations — Bicentenario, Andalucia, Rosario, and Ofelia — connecting 500,000+ residents and reducing peak-hour travel time from 48 to 8 minutes. CAF has committed $80 million in initial financing.
$117.6 Million IDB-Backed Investment Targets 85% Renewable Power in Galapagos by 2030, 100% by 2040
The Government of Ecuador announced a $117.6 million investment to strengthen climate resilience and accelerate the energy transition in the Galapagos Islands, backed by the Inter-American Development Bank. The 'Energy Evolution' plan targets 85% renewable power by 2030 and 100% by 2040, potentially eliminating 130,411 tonnes of CO2 emissions and opening the door to carbon-market financing.
Ecuador's National Assembly Votes 117-20 to Legalize Carbon Markets, Ending 16-Year De Facto Ban and Opening a New Asset Class
Ecuador's National Assembly voted 117-20 to legalize carbon markets, ending a de facto ban that has been in effect since 2008 constitutional reforms. The legislation, now awaiting presidential approval, creates a regulated framework for carbon credit trading and designates BeZero Carbon as the official ratings provider for the Ecuadorian Carbon Exchange (BECX). Ecuador faces an estimated $3.7 billion in annual climate financing needs through 2050.
Mexico's ASUR Acquires Quito Airport Stake as Part of $936 Million, 20-Airport Acquisition Across Latin America
Mexico's Grupo Aeroportuario del Sureste (ASUR) has agreed to acquire Motiva S.A.'s stake in Corporacion Quiport, the concessionaire operating Quito's Mariscal Sucre International Airport. The transaction is part of ASUR's broader $936 million acquisition of 20 airports across Brazil, Ecuador, Costa Rica, and Curacao, financed through cash reserves and JPMorgan committed debt. The deal is expected to close in H1 2026.
Petroecuador Declares Force Majeure at Esmeraldas Maritime Terminal After Tanker Strikes Submarine Pipeline, Disrupting Fuel Supply to Northern Ecuador
Petroecuador declared force majeure and a 60-day emergency at the Esmeraldas Maritime Terminal after the tanker 'Seaways Wheat' struck a submarine pipeline during diesel discharge on February 8, 2026, caused by adverse weather conditions. The incident disrupts programmed discharges of Premium Diesel, Ron 95 Gasoline, and Diesel Oil — threatening fuel supply to northern Ecuador's coastal and highland regions served by the terminal.
