Jorge Jamil Mahuad Witt (born 29 July 1949) is an Ecuadorian lawyer, academic and former politician. He was the 41st president of Ecuador from 10 August 1998, to 21 January 2000.
Mahuad initially ran in the presidential election of 1988, coming in a distant fifth place. He then served as Mayor of Quito from 1992 to 1998.
Ten years after his first presidential run, he won the presidential election by a very close margin. Álvaro Noboa, the defeated candidate, asked for a vote recount, which was denied by the authority responsible. There was a severe economic crisis in Ecuador (including the 1998–99 Ecuador banking crisis), which had led to a 60% cut in the armed forces budget. Mahuad's popularity rating fell from 60% in October 1998 to 6% in January 2000. In the final days of 1999, he announced the dollarization of the economy of Ecuador, along with a number of International Monetary Fund measures.
Mahuad was forced to resign after a week of demonstrations by indigenous Ecuadorians and a military revolt led by Lucio Gutiérrez.
He proposed economic reforms that produced the "dollarization" of the economy. He declared a freeze in bank accounts in order to control rampant inflation. This caused massive unrest as the lower classes struggled to convert their now useless Ecuadorian sucres to US dollars and lost wealth, while the upper classes (whose members already had their wealth invested in US dollars) gained wealth in turn. Under Mahuad's recession-plagued term, the economy shrank significantly, and inflation reached levels of up to 60 percent.
During Mahuad's presidency, a historic peace agreement with Peru was signed, resolving long-standing border disputes. Under the agreement, Ecuador renounced its claims to sovereignty of the disputed territory under the Rio de Janeiro Protocol, and in return, Peru deeded ownership of one km² of territory to Ecuador. Mahuad concluded the peace with Peru on 26 October 1998.[3]
Post-presidency
Mahuad is also a Senior Advisor at CMI International Group in Cambridge, MA.
In May 2014, Ecuador’s National Court of Justice sentenced him to 12 years jail term on embezzlement charges.[4]
References
^Kurzman, Charles. "Islam in the Americas (slideshow[dead link])". 17 February 2006.
^"Heads of State/Government". www.State.Gov. US State Department. 6 March 2020. Retrieved 6 March 2020.
^La difícil construcción de la sanidad pública en Ecuador, Loïc Ramirez, El Mundo diplomatico, febrero de 2018
^"Ex-Ecuadorian president Jamil Mahuad jailed for 12 years". IANS. news.biharprabha.com. Retrieved 30 May 2014.
External links
Extended biography (in Spanish) by CIDOB Foundation
jamil, mahuad, this, spanish, name, first, paternal, surname, mahuad, second, maternal, family, name, witt, this, biography, living, person, needs, additional, citations, verification, please, help, adding, reliable, sources, contentious, material, about, livi. In this Spanish name the first or paternal surname is Mahuad and the second or maternal family name is Witt This biography of a living person needs additional citations for verification Please help by adding reliable sources Contentious material about living persons that is unsourced or poorly sourced must be removed immediately especially if potentially libelous or harmful Find sources Jamil Mahuad news newspapers books scholar JSTOR December 2011 Learn how and when to remove this template message Jorge Jamil Mahuad Witt born 29 July 1949 is an Ecuadorian lawyer academic and former politician He was the 41st president of Ecuador from 10 August 1998 to 21 January 2000 Jamil Mahuad41st President of EcuadorIn office 10 August 1998 21 January 2000Vice PresidentGustavo NoboaPreceded byFabian AlarconSucceeded byGustavo NoboaMetropolitan Mayor of QuitoIn office 10 August 1992 10 August 1998Preceded byRodrigo PazSucceeded byRoque SevillaPersonal detailsBornJorge Jamil Mahuad Witt 1949 07 29 29 July 1949 age 73 Loja EcuadorPolitical partyPopular DemocracySpouseTatiana Calderon m 1971 wbr ChildrenPaola Mahuad CalderonAlma materPontificia Universidad Catolica del Ecuador Contents 1 Early life 2 Presidency 3 Post presidency 4 References 5 External linksEarly life EditMahuad was born in Loja Ecuador He is of Lebanese and German descent 1 Mahuad attended Harvard University s John F Kennedy School of Government and received a Master of Public Administration in 1989 He was a US State Department sponsored Fulbright Fellow 2 Presidency EditMahuad initially ran in the presidential election of 1988 coming in a distant fifth place He then served as Mayor of Quito from 1992 to 1998 Ten years after his first presidential run he won the presidential election by a very close margin Alvaro Noboa the defeated candidate asked for a vote recount which was denied by the authority responsible There was a severe economic crisis in Ecuador including the 1998 99 Ecuador banking crisis which had led to a 60 cut in the armed forces budget Mahuad s popularity rating fell from 60 in October 1998 to 6 in January 2000 In the final days of 1999 he announced the dollarization of the economy of Ecuador along with a number of International Monetary Fund measures Mahuad was forced to resign after a week of demonstrations by indigenous Ecuadorians and a military revolt led by Lucio Gutierrez He proposed economic reforms that produced the dollarization of the economy He declared a freeze in bank accounts in order to control rampant inflation This caused massive unrest as the lower classes struggled to convert their now useless Ecuadorian sucres to US dollars and lost wealth while the upper classes whose members already had their wealth invested in US dollars gained wealth in turn Under Mahuad s recession plagued term the economy shrank significantly and inflation reached levels of up to 60 percent During Mahuad s presidency a historic peace agreement with Peru was signed resolving long standing border disputes Under the agreement Ecuador renounced its claims to sovereignty of the disputed territory under the Rio de Janeiro Protocol and in return Peru deeded ownership of one km of territory to Ecuador Mahuad concluded the peace with Peru on 26 October 1998 3 Post presidency EditMahuad is also a Senior Advisor at CMI International Group in Cambridge MA In May 2014 Ecuador s National Court of Justice sentenced him to 12 years jail term on embezzlement charges 4 References Edit Kurzman Charles Islam in the Americas slideshow dead link 17 February 2006 Heads of State Government www State Gov US State Department 6 March 2020 Retrieved 6 March 2020 La dificil construccion de la sanidad publica en Ecuador Loic Ramirez El Mundo diplomatico febrero de 2018 Ex Ecuadorian president Jamil Mahuad jailed for 12 years IANS news biharprabha com Retrieved 30 May 2014 External links EditExtended biography in Spanish by CIDOB Foundation Text of the Rio Protocol Mahuad and FujimoriPolitical officesPreceded byFabian Alarcon President of Ecuador10 August 1998 January 21 2000 Succeeded byGustavo Noboa Retrieved from https en wikipedia org w index php title Jamil Mahuad amp oldid 1124931408, wikipedia, wiki, book, books, library,
