Ecuador's Correa wins reelection, eyes investment
President Correa won by more than 30 percentage points, allowing him to deepen his socialist revolution even as he courts foreign investment for the resource-wealthy Andean nation.
Ecuadorean President Rafael Correa reveled in a sweeping re-election victory that allows him to deepen his socialist revolution even as he seeks to woo foreign investment in the resource-wealthy Andean nation.Skip to next paragraph
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The pugnacious 49-year-old economist trounced his nearest rival by more than 30 percentage points on Sunday to win a new four-year term. He has already been in power for six years, winning broad support with ambitious social spending programs.
Correa's resounding victory on Sunday could set him up to become Latin America's most outspoken critic of Washington as Venezuelan President Hugo Chavez is locked in a battle with cancer and may be unable to stay in power.
"We will be present wherever we can be useful, wherever we can best serve our fellow citizens and our Latin American brothers," Correa told supporters who celebrated in front of the presidential palace in Quito, waving the ruling Alianza Pais party's neon-green flags.
"This is not just a victory for Ecuador, this is a victory for the great homeland of Latin America," the beaming Correa said.
Correa is now the loudest voice in Latin America arguing against the free-market reforms promoted by Washington and in favor of state-driven economies and expanding ties with China.
Still, the continued success of Latin American socialism will depend on strong commodities prices that underpin generous social spending, and Correa needs to both improve Ecuador's stagnant oil production and spur a nascent mining industry.
In a sign he wants to deepen socialist reforms, Correa's legislative agenda includes a new law that would regulate television and newspaper content, part of his ongoing confrontation with opposition media.
He also plans a land reform campaign to redistribute idle land to the poor.
"Our Ecuador needs a president like Rafael Correa. He has been strong and has not allowed anyone to intimidate him," said Julieta Moira, an unemployed 46-year-old as she celebrated outside the presidential palace. "I'm very excited, happy and thankful."
Correa is also expected to seek changes to a mining law that would help close a deal with Canada's Kinross to develop a large gold reserve.
That will be a major test of his ability to offer investment security while ensuring the state keeps a large portion of revenue.
Chavez, in a statement sent by Venezuela's government, celebrated Correa's re-election as a triumph for the ALBA bloc of leftist nations in Latin America and the Caribbean. The group has been left rudderless since Chavez was sidelined with cancer.
"It is a victory for ALBA, for the Bolivarian and socialist forces of our America, and will help to consolidate an era of change," the statement said, referring to Venezuelan-born South American independence hero Simon Bolivar.