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QUITO - Business heir Daniel Noboa will have 17 months to revive Ecuador's battered economy and tackle rising crime after winning the country's presidential election on Sunday.
Markets were expected to receive news of Noboa's victory with more enthusiasm than they would have a win by his rival, leftist Luisa Gonzalez, but analysts have said investors' longer-term reaction could be swayed by Noboa's cabinet picks, which are expected next week. Increased violence, which the outgoing government blames on drug gangs, reached a crescendo during the campaign with the murder of anti-corruption candidate Fernando Villavicencio, who was shot to death in August as he left a Quito campaign event.Noboa's victory fulfills a long-held family ambition - he grew up accompanying his banana baron father Alvaro during the latter's multiple failed attempts to become president.
He will be delighted to see Noboa at the presidential palace on Tuesday, Lasso said on social media late on Sunday.
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