Abstract
This research article studies the problem of the moratorium in Ecuador through a qualitative methodology. In 2007, Ecuador’s President, Rafael Correa, created the Integral Auditing Commission for Public Credit of Ecuador (CAIC), with the aim of analyzing the country’s public debt through an independent audit. The audit process considered the period 1976-2006 and proposed itself to determine legality and legitimacy of the debt and an eventual co-responsibility of the creditors. At the end of 2008, Correa declared a default on 25% of foreign debt. In academic and non-academic context, the decision was labeled as an ideological measure. We don’t rule out the hypothesis. However, it might be an ideological response to a reality also steeped in ideology: Neoliberalism.
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