Noboa promises to cut down on killings and grow the economy at his inauguration

On Saturday, business heir Daniel Noboa took the oath of office as president of Ecuador for a full term, vowing to accelerate the South American nation’s war on drug gangs and stimulate slowing economic growth.

Despite accusations of fraud from his socialist opponent, Noboa won an unexpectedly large majority of votes in April and was elected in 2023 to serve out his predecessor’s term.

Niels Olsen Peet, president of the National Assembly, swore him in during a ceremony on Saturday. They raised their joined hands in a moment of excitement as Olsen draped a presidential ribbon over Noboa’s shoulders.

“The goal of gradually reducing homicides will not be negotiable. Regarding his new term, Noboa said the assembly, “We will continue to combat drug trafficking, seize illicit weapons, ammunition, and explosives, and exert more control at the nation’s ports.”

Noboa imposed a war on criminal organizations during his 18 months in government, strengthening port security, extending terms for terrorism and narcotics offenses, and deploying the military on the streets through decrees.

In addition, he visited with Chinese banks to explore potential loans, signed a $4 billion agreement with the International Monetary Fund, and worked to lower a $4.6 billion fiscal imbalance.

“We are creating a safe, stable, and competitive environment that fosters growth, protects investments, and guarantees real opportunities,” Noboa stated.

According to the 37-year-old, collaboration with Israel, the United States, and El Salvador will aid the nation in combating drug trafficking and luring in international investment.

The opposition and several rights activists have criticized his administration for appointing Erik Prince, the founder of Blackwater and a private security executive, to advise security forces.

Despite Noboa’s claims of a 15% decrease in violent fatalities in 2024, government data shows that the number of violent deaths increased by 58% to 3,094 in the first four months of 2025 compared to the same period the previous year.

Although the central bank forecasts 2.8% growth, he has stated that the economy would expand by 4% this year.

With a public debt load of 51.8% of GDP, high country risk that makes bond issuance challenging, and a decline in oil production—one of the nation’s major exports—analysts predict that Noboa will need to look for funding.

The legislature and the majority of its committees are controlled by Noboa’s party.