Skip to content

Subscriber Only

Ecuador Bonds Soar as Millionaire Banker Wins Presidency

Guillermo Lasso, 65, will be sworn in as president next month
His win is set to reassure bondholders on upholding IMF plan

Guillermo Lasso, left, celebrates with his family and supporters in Guayaquil, Ecuador, on April 11. — Guillermo Lasso, left, celebrates with his family and supporters in Guayaquil, Ecuador, on April 11.
Photographer: Vicho Gaibor/Bloomberg

By

Stephan Kueffner and

April 12, 2021, 2:23 AM UTCUpdated onApril 12, 2021, 5:55 PM UTC

Ecuadorean bonds rallied after career banker Guillermo Lasso won the presidential election with a late surge in support, calming investors who thought his opponent was likely to lead the default-prone country into insolvency once again.

Lasso beat out economist Andres Arauz, a left-wing protege of former President Rafael Correa, by a solid margin in Sunday’s runoff vote. Arauz, who conceded defeat, won February’s first round by 13 percentage points.