Ecuador’s Correa cruises to re-election victory

QUITO, (Reuters) – Ecuador’s President Rafael  Correa cruised to a re-election victory yesterday as voters  ignored a sputtering economy to make the charismatic socialist  the OPEC nation’s most powerful leader in a generation.

Correa won 51 percent of the vote with a 20 point lead over  his nearest rival, according to a quick count authorized by  electoral authorities.

The result makes him the first president to avoid a run-off  election at least since Ecuador returned to democracy in 1979.

Supporters packed Correa’s party headquarters in Quito  waving green flags and shouting “Just one round, Ecuador.”

“The people…have given us the most splendorous victory of  probably the last 50 years,” Correa said at a press conference  in his home town of Guayaquil.

The 46-year-old vowed to protect the poor from the global  financial crisis in his new four-year term and said Ecuador’s  economy was healthier than many countries.

His main opponent, Lucio Gutierrez, said he could not  accept defeat until official results were published and charged  that fraud had been detected at some polling stations.

Correa has vowed to keep standing up to foreign investors  and big oil companies after bringing relative stability to a  country where street protests toppled three presidents in the  decade before he took office in 2007.

But the fierce nationalist must now tackle a weakening  economy and sliding oil revenues to deliver on his promises of  more housing and jobs or he risks eroding his popularity in the  world’s top banana exporter.

“Correa is being watched by all Ecuadoreans and should  continue with adequate social spending, if not his  administration will not last long,” said veterinarian Karen  Cabrera, 32, after voting in Guayaquil.