Economy / Ecuador
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Constitution Approved, But Referendum Uncertain
July 2008 | Ratings UpdateSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Although Ecuador's constituent assembly approved the new constitution on July 23, polls suggest most of the electorate is currently undecided as to how they will vote in the referendum, scheduled for September 28. A 'Yes' vote (of 50% of the electorate) would almost certainly improve both the policy-making process and policy continuity components of Ecuador's short-term political risk rating, as the country's present constitution limits the government's power to push through policy. However, a 'No' vote could affect President Rafael Correa's ability to govern effectively, and may therefore have a negative effect on Ecuador's long and short-term political risk ratings.