The economic outlook however remains challenging as years of populist rule and a drop in oil prices have left the country with a massive public debt pile.
With protests escalating in Ecuador, President Lenin Moreno has moved his administration out of the capital Quito to the port city of Guayaquil. Moreno claims his predecessor, Rafael Correa, is attempting a coup.
Protesters in Ecuador have clashed with police for the second day in a row over a drastic fuel price increase. President Lenin Moreno has left the capital and declared a state of emergency.
The government has sent military troops to the streets to enforce a curfew as it fights for control of the capital. At least five people have died since the violent protests began 10 days ago.
President Moreno and leaders of the country's indigenous peoples have struck a deal to cancel an austerity package that led to violent protests. Seven people were killed after the cost-cutting measures sparked outrage.
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