Ecuador, last great bargains, in Ecuador

by | May 14, 2000 | Archives

Dear International Friend,

One of my most respected contacts in Ecuador is a banker. he has been correct about the economy there again and again. Here is a message he just sent me.

“I think it may be turnaround time in Ecuador now. Daily press leads me to believe the government may hang in there for a while and dollarisation implies rapid asset revaluation and falling implicit interest rates.”

Assets there are at incredible bargain levels and now is the time to buy.

The article below from the May 12 issue of “El Universo”, Guayaquil. confirms what I have been saying about the bargains in Manta.

Warships in Manta

MANTA, Manabí (Edgar Ríos) – This Manabí port, which last year became the center of war on drugs as a result of the signature of an agreement with USA to use the airbase, witnesses the expansion of North American power.

In only five weeks, seven US Navy ships have docked in Manta with the purpose of reinforcing the controls on narcotics and illegals in the Pacific Ocean. There is even mention of the possibility of constructing a floating pier for this type of operations.

According to an expert belonging to an organization related to the US Navy, who preferred to remain anonymous, these operations are contemplated in the military agreement signed between Ecuador and USA for the functioning of the “FOL” which is being built in the Eloy Alfaro airbase in this city.

The source informed that there is a program for constant arrivals of frigates, patrol vessels and a cruiser, all of the US Navy.

The agreement contemplate the provision of port facilities and coordination for the surveillance in this part of the continent, added the expert.

If the military vessels return soon it is because they have intensified the control of narcotics and illegals in coordination with P3 Orion intelligence aircraft operating out of the airbase.

According to the source, because of the frequency of the operations and above all, due to security requirements, the Americans are studying the construction of a floating pier close to the Jaramijó naval base. However, before this progresses, the agreement must be revised.

When a vessel arrives in a port, their commanders go the Centro de Operación Aérea at the Eloy Alfaro airbase, where they meet with the air surveillance pilots in the presence of Ecuadorian officers who, according to the agreement, must be kept informed of operations.

The arrival of these warships brings important income to merchants in this city.

The main centers where foreigners arriving on the frigate Samuel Eliot Morrison were attended were the waterfront avenues (Malecon central y escénico) where the seamen ate, bought handicrafts and drank abundant beer.

Depending on the size of the vessel, the average bunker purchase is of 60,000 gallons, worth about USD 16,000.

The crews perform community tasks. For example, the crew of the Morrison gave a computer to a neighborhood committee, skates for a group of religious women, school texts, and firefighting equipment for the local firemen.

This is why the data I have to share at the upcoming seminars in Copenhagen and Ecuador may be the last chances to cash in on the bargain basement prices that are available right now. I hope to meet you!