Businessman Noboa wins Ecuador presidency, eclipsing father's legacy
© Reuters. Ecuadorian presidential candidate Daniel Noboa speaks to the press following his win in the presidential election, in Santa Elena, Ecuador October 15, 2023. REUTERS/Santiago ArcosQUITO - Business scion Daniel Noboa will fulfill a long-held family ambition when he takes office as Ecuador's president, after winning election on Sunday on promises to create jobs and bring crime gangs under control.
Noboa grew up accompanying his banana baron father Alvaro during the latter's multiple failed bids to become president, and was a surprise qualifier for the second round run-off. His victory will be an immediate balm to markets, analysts have said, but his cabinet picks are still unknown and are likely to influence long-term market outlook.
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