On 15 February 1972 only moments before incumbent President Velasco Ibarra was scheduled to deliver a campaign address, the Ecuadorian military staged a coup. Velasco was sent into exile, the impending elections were cancelled and a ‘revolutionary and nationalist’ government of the armed forces was established under the direction of Army Commander, General Guillermo Rodriguez Lara. Taking refuge in Argentina, Velasco denounced the coup d’état as ‘the work of a few colonels who, having read translated works of Mao Tse Tung and Lenin without understanding them, frightened the military into the most treacherous and stupid coup one could imagine’.1
KeywordsEconomic Crisis Petroleum Hydrocarbon Income Marketing
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