Diplomatic representation in the US: chief of mission : Ambassador (vacant); Charge d'Affaires Fernando FLORES chancery: 2535 15th Street NW, Washington, DC 20009 telephone: [1] (202) 234-7200 consulate(s) general: Chicago, Houston, Los Angeles, Miami, New Orleans, New York, Philadelphia, and San Francisco consulate(s): Newark
Diplomatic representation from the US: chief of mission: Ambassador Leslie ALEXANDER embassy: Avenida 12 de Octubre and Avenida Patria, Quito mailing address: APO AA 34039 telephone : [593] (2) 562-890 FAX: [593] (2) 502-052 consulate(s) general: Guayaquil
Flag description: three horizontal bands of yellow (top, double width), blue, and red with the coat of arms superimposed at the center of the flag; similar to the flag of Colombia that is shorter and does not bear a coat of arms
Economy
Economy - overview: Ecuador has substantial oil resources and rich agricultural areas. As an exporter of primary products such as oil, bananas, and shrimp, fluctuations in world market prices can have a substantial domestic impact. Growth has been uneven in recent years as the government has repeatedly initiated ill-conceived fiscal stabilization measures. The populist government of Abdala BUCARAM Ortiz proposed a major currency reform in 1996, but popular discontent with new austerity measures and rampant official corruption undermined his government's position. Congress replaced BUCARAM with Fabian ALARCON in February 1997. ALARCON has adopted a minimalist economic program that puts off major decisions until the next elected government takes office in August 1998. Ecuador has joined the Word Trade Organization in 1996, but has failed to comply with many of its accession commitments. Growth slowed to 2.0% in 1996, due to a lack of investment caused by political uncertainty and high domestic interest rates.
GDP: purchasing power parity - $47 billion (1996 est.)
GDP - real growth rate: 2% (1996 est.)
GDP - per capita: purchasing power parity - $4,100 (1996 est.)
GDP - composition by sector: agriculture : 13% industry: 38% services: 49% (1996 est.)
Inflation rate - consumer price index: 26% (1996)