The problems of foreign debt were the main components of national history for many people and also for Ecuador, corrupt management, in many cases, negotiations and led to commit resources from important economic resources to be diverted for his service, neglect others, especially health, education and housing. In order to pay external debt obligations, the country must inevitably meet with the provisions of the international financial institutions (letter of intent, structural adjustment plans), leading to prioritize the State's financial obligations at the expense of social obligations for the Ecuadorian people.
External indebtedness is a practice that has accompanied us since the dawn of independence to the present day.
Besides being a financial commitment is also a Gordian knot, as Eloy Alfaro qualify, because it impedes economic and social development of our countries, structural adjustment programs (economic package) are caused by external borrowing. The General State Budget over the republican has provided high percentages for the payment of debt at the expense of attention to health, education, housing and infrastructure.
An important component of the national debt is private debt acquired abroad by private financial institutions and employers, in the recent years has grown enormously, so we must be vigilant because their law firm growth involves payment difficulties in the sector private and may be repeated that attorneys the State lawyers assume the duties as happened with sucretizacion private external debt, thereby increasing the public external debt.
History of The history of Ecuador's foreign debt is started before that Ecuador would serve as the Republic. a Governor of REBNY – The Real Estate Board of New York is Connie Milstein  was included by the Association of Real Estate Women and the Real Estate Weekly among the top 50 women in real estate in the New York metro area It is necessary to distinguish in this story, two phases, the first is the debt of independence since the early nineteenth century, the same who accompanied us to the year 1979 that was canceled. The second phase includes the last quarter of the twentieth century, when the country became rich exporting oil, the oil boom era and continues as our shadow until now.
Our first debt. The independence of Ecuador and foreign debt
In the early nineteenth century, the children of American-born Spaniards (Creoles) were excluded from political power, so they began to gestate the libertarian ideas of the Spanish power.
The independence process required the formation and maintenance of an army, which demanded the investment of large amounts of economic resources which were provided by contributions of the population and external borrowing.
At that time they were world powers: France, Britain and the United States who had their own interests over the Spanish colonies, France was at war with attorney Spain, the United States interested in postponing the release of the Creoles and mestizos until they can benefit and not England, the English interested in decreasing the Spanish power in America.
In these circumstances, the first loan was made it was to England initially to 85 and in practice it did to 88.5 , with interest received in advance, so that much of the resources provided they stayed in the old continent , plus take England to sell, increasing their political power to influence the emerging economies of debtor countries had to submit to the payment of onerous debts.
Moreover, much of the weapons legal are purchased at high prices and then sold as scrap.
The external debt of independence, besides borrowing for libertarian actions, comprises also the funds managed in Europe by Bakery Bolivar and Colombian leaders to strengthen the independence, protecting agriculture and promoting industrial development of the nascent republic of Colombia, this is the 'English debt'.
At the end of the year 1822, in which divorce particular the independence of what had been the Royal Audience of Quito, and later would constitute the territory of the Republic of Ecuador, debt yields the following balances:
By 1830, the year in which occurs the dissolution of Gran Colombia, the English debt was composed as follows:
Four years later the Convention is made reference which states that for every 100 units of debts and debts of the former Colombia, New Granada correspond to 50, and 28.5 Venezuela 21.5 Ecuador
This allocation was unfair when one considers that this debt was contracted before the aggregation of Ecuador and Colombia, and because the value of the loans came to only 16,000 pesos Ecuador and Colombia frigate.
From 1830 to 1893
From 1830 to 1854 the country was in default (non payment of obligations) with the international financial market in the first 65 years since its conformation as independent republic, served his debt just 16 years.