Ecuador President Daniel Noboa reports corruption and economic growth

President Daniel Noboa has denounced a suspected corruption network in the Pichincha province involving more than $10.5 million. According to the President, local authorities allegedly used over 300 small-scale public contracts over the last decade to bypass state controls and benefit personal interests.

Noboa specifically identified Tonello Soluciones as a firm linked to a sitting vice-prefect, noting that the official's name appears in both the company's corporate name and its shareholder list. The administration has referred all documentation to the State Comptroller General to initiate formal investigations.

Separately, the Ministry of Economic Development and Productive reported positive economic indicators under the current administration. Key metrics include international reserves reaching a record $12,706.57 million, a 5.2% increase in non-oil exports totaling $20,151 million between January and August 2026, and a 3.5% year-on-year growth in economic activity as of August 2026. Additionally, foreign direct investment rose by 101.3% in the first half of the year, reaching $715.5 million.