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ECUADOR 17 Feb 2013 Presidential election expected to see vying brothers
The most unusual aspect of the presidential election that Ecuador has set for Feb 17 is that two brothers are likely to be batt

February 17, 2013 - NULL

ECUADOR 17 Feb 2013 Presidential election expected to see vying brothers
The most unusual aspect of the presidential election that Ecuador has set for Feb 17 is that two brothers are likely to be battling for the job. President Rafael Correa is standing again, and his brother, Fabricio Correa, has signaled his intention to run. The third early contender is Guillermo Lasso, a banker. Correa is seen as nearly unassailable because the opposition is fractured and because of his heavy investment in social and infrastructure programs. If he becomes vulnerable, it could be because a corruption scandal.

The run-off

ECUADOR 17 Feb 2013 Presidential election expected to see vying brothers
The most unusual aspect of the presidential election that Ecuador has set for Feb 17 is that two brothers are likely to be battling for the job. President Rafael Correa is standing again, and his brother, Fabricio Correa, has signaled his intention to run. The third early contender is Guillermo Lasso, a banker. Correa is seen as nearly unassailable because the opposition is fractured and because of his heavy investment in social and infrastructure programs. If he becomes vulnerable, it could be because a corruption scandal.

The run-off date is 7 Apr.

According to Reuters, Correa took power in 2007 vowing to boost state revenue from Ecuador's natural resources and use the money to help alleviate poverty. The smallest member of the Organization of Petroleum Exporting Countries, Ecuador subsidizes fuel costs and the domestic use of natural gas.

Legislation that would cushions first-time home buyers against mortgage debt could give the leftist incumbent, an economist educated in the United States, a generous boost. As reported by AP, the president hasn't indicated whether he will sign it. Aimed at discouraging a real-estate bubble, the law requires banks to forgive any outstanding debt on mortgages for first-time buyers of properties worth up to US $146,000 if they default and forfeit a home. Under the law, certain automobile buyers would also have a cushion against debt.

Ecuador's El Comercio newspaper reported in May that a commission appointed by the president to investigate claims that Fabricio Correa received illegal government contracts implicated the president as well. The commissioners claim the president knew his sibling was awarded deals worth about US $700 million. The spat between the two brothers has played out publicly for years, with each accusing the other of corruption. (WRITTEN MAY 2012)

RELATED READING:

Ola de críticas por el juicio contra los cuatro veedores de los contratos de Fabricio Correa (El Comercio 15 May 2012)
http://www.elcomercio.com/politica/Ola-criticas-juicio-veedores_0_700130186.html

Ecuador's presidential election set for February 2013
http://www.reuters.com/article/2012/02/24/ecuador-election-idUSL2E8DOELU20120224

Brothers might battle for presidency in Ecuador (CNN 7 Mar 2012)
http://articles.cnn.com/2012-03-07/americas/world_americas_ecuador-president-brothers_1_president-rafael-correa-political-party-elections?_s=PM:AMERICAS

Ecuador's presidential election set for February 2013 (InterAmerican Security Watch 25 Feb 2012)
http://interamericansecuritywatch.com/category/ecuador-elections/

Date written/update: 2013-02-17