Reserves Figures Misleading

While still strong, a recent Cedatos/Gallup poll suggests President Rafael Correa's popularity has diminished somewhat over the past few months, dropping under the 50% mark in September for the first time since he came to office in November 2006. According to the poll for which over 2,000 Ecuadoreans were interviewed, his approval rating stands at 49%, a two percentage point fall from August levels, whereas his disapproval rating holds firm at 44%. While we anticipate his approval rating to continue falling as fiscal headwinds prevents him for reaching his ambitious spending pledges, this marginal change is unlikely to give him sleepless nights at present.

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