Ecuador has suffered from high external vulnerability, poor macroeconomic performance, and poor governance. A succession of external adversities linked to the volatility of oil prices and violent variations in capital flows and natural calamities, all in combination with poor economic management, resulted in macroeconomic imbalances, with negative impact on growth and social development. These deficient economic policies were partly caused by weak and too-often-changing public management, and the governance problems that traditionally characterize oil-producing countries. This informative...