NEW YORK, NY--(Marketwired - Mar 11, 2015) -  LatinFinance has named Ecuadorian President Rafael Correa as Person of the Year 2015.

The award celebrates Correa's pragmatic approach to government finances while continuing a core agenda of poverty-reduction and long-term economic growth.

In 2014, Correa led Ecuador back to the international financial markets with a $2 billion bond sale that marked a turning point after the country was declared in default in 2008.

At the same time, Correa has deftly managed the Ecuadorian economy and budget, a fact highlighted by the administration's ability to quickly cut 2015 spending as the price of oil fell.

Correa stands out for taking these pragmatic steps while implementing policies that have fostered economic growth and cut the poverty rate. The share of Ecuador's population living on less than $2 a day in purchasing power parity terms fell by 40% between 2007 and 2012, according to World Bank data.

"President Correa has struck an impressive balance between prioritizing social improvements while re-engaging pragmatically with international financial markets," says Katie Llanos-Small, LatinFinance's Editor-in-Chief.

Correa discusses his philosophy toward international financial markets in an in-depth interview with LatinFinance available at

LatinFinance Person of the Year Award

LatinFinance's Person of the Year Award recognizes the individual to have had most impact on the economic and financial sectors of Latin America and the Caribbean over the past year.

The award is decided by LatinFinance's editors, following consultation with a wide range of market participants.

Previous winners include Mexican President Enrique Peña Nieto (2014), Peruvian President Ollanta Humala (2013), Carlos García Moreno of América Móvil (2012), and André Esteves of BTG Pactual (2011).

For full coverage of the award, visit

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