Rafael Vicente Correa Delgado Wiki Biography

Rafael Vicente Correa Delgado was born on 6th April 1963, in Guayaquil, Ecuador and is a politician and economist, no doubt best known as the President of Ecuador from 2007 until 2017; he is a member of the political party Alianza PAIS (Patria Altiva in Soberana). Under Correa’s ten year rule, Ecuador’s economic growth was higher than in the previous quarter of a century, while poverty in the country was effectively combated by large scale social security expenditures.

How much is the net worth of Rafael Correa? It has been estimated by authoritative sources that the overall size of his wealth is as much as $2 million, as of the data presented in the middle of 2017.

Rafael Correa Net Worth $2 Million

To begin with, Correa studied economics in the University of Guayaquil in Ecuador, the Catholic University of Leuven in Belgium and the University of Illinois at Urbana Champaign in USA – at the latter he earned an MSc and then PhD in economics.

Following his return to Ecuador, he was employed as an economics advisor by various state and international agencies, and also taught economics at the University of San Francisco in Quito. In April of 2005, he became Minister of Finance and Economics in the Government of Alfredo Palacio, but stepped down four months later because he didn’t believe that could not accomplish his plans, which focused on combating poverty, and promoting a high level of national economic independence, especially the state’s share of Ecuadorian oil. He also wished a stronger approach to Venezuela and, in general, an increase in cooperation with other Latin American countries. Furthermore, he was sceptical of free trade with the US, and after a disagreement with the World Bank on the terms of a loan, he resigned as minister. In 2006, Correa participated in the presidential elections with his newly established party Alianza PAIS. In the first round, he received 22.84% of the votes, with which he came second in the right wing. However, in the second round, he managed to get more votes, and so was elected as the new president. In 2013, Correa was re-elected for a new term, actually achieving an absolute majority of 57% in the first round, against 30% for the right wing ex-banker Guillermo Lasso and 6% for the populist former president Lucio Gutiérrez.

Correa is known as a left wing politician. He described his programs as a form of revolution in the areas of constitution, ethics, economy and productivity, education and health, dignity, sovereignty and Latin American integration. In a philosophical sense, he titled himself as a humanist and a left winged Christian. He also managed to maintain good ties with Hugo Chávez, the now deceased president of Venezuela. Under Correa’s government, expenditure on social services (education, health care, social housing) in Ecuador was doubled from 4.3% of GDP to 8.6%. The minimum wage rose by 48%, economic growth was 1.5% per annum (vs. 0.6% per annum for the previous quarter centuryt), despite an earthquake in April 2016 and the collapse of oil prices in 2014. Growth was mainly in construction and only for a small part in the oil industry. The number of Ecuadorans living below the poverty line fell from 36.7% to 22.5%. The inflow to the Ecuadorian economy was partially made possible by Chinese investment. Domestically, he was criticized for protecting foreign capital for the interests of his own people and the environment, especially in violent conflicts with Indians around land in the interior. On 24th May 2017, he was succeeded by current president Lenín Moreno.

Finally, in the personal life of Rafael Correa, he is married to Belgian Anne Malherbe, and together they have two daughters and a son.



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