Luisa González and Daniel Noboa in Ecuador, on February 9, 2025. Photo courtesy of Reuters

This week we return to the topic of elections, focusing on Ecuador. Two candidates, Luisa Gonzalez and Daniel Noboa, notorious banana empire owner, are battling each other in the polls. In the first round of elections both garnered about 43% of the votes. In an effort to swing some people over, Gonzalez has been able to forge an alliance with PK, the indigenous peoples’ party of Ecuador, whose candidate Leonidas Iza failed to make it past the first elections round. This alliance is based on an agreement that Gonzalez will resist privatization and prevent illegal mining and mining in sensitive areas, along with upholding the right to consult with indigenous communities prior to starting oil or mining operations. It is expected that this will give her the edge she needs in order to defeat incumbent Daniel Noboa, with whom many are disillusioned as a result of his neoliberal policies and disregard for Constitutional protections. This last push, occurs just a week before the election, happening this Sunday, April 13th.

In Argentina, two Supreme Court Justices who had been appointed by right-wing president Javier Milei were rejected by the Senate. Milei had appointed the two justices during the congressional summer, attempting to bypass congressional approval. The Senate has taken a strong stance against Milei’s attempts at consolidating power and putting right-wing justices on the court. This leaves the court with two vacancies, with only three justices remaining. Milei was hoping to appoint justices that would rule in favor of his policies. This is noticeably reminiscent of the United States. It will be important to follow the next appointees to the court and see the Senate’s reaction to it, especially if done during their normal session.

Markets across South America have been impacted by President Trump’s tariffs announcement, sending most plunging, including Chile. Colombia’s market has been spared so far, but the long-term effects are yet to be known as Trump continues to announce more policies.