Rafael Vicente Correa Delgado assumed office on 2007 January 15.
He was re-elected in 2009. In 2008, he managed to get Ecuador's foreign debt heavily reduced by declaring the previous debt illegitimate due to having been contracted by corrupt and despotic previous regimes. During the 2010 September crisis, he was injured and taken hostage by police officers in a police uprising, but later rescued by military forces.
The President of Ecuador serves as both head of government and head of state and is elected to 4-year terms, although the position has been relatively unstable, with no president serving the full 4-years since 1992-1996.
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