Ecuador

The economy of Ecuador is based on petroleum production, and exports of primary agricultural products.  Some nontraditional exports (flowers, canned fish) have grown recently, but the industry is largely oriented to servicing the domestic market.
The sharp drop in oil prices in 97-98 highlighted the Ecuadorian government's large fiscal deficits and expansionary money policy resulted in contraction of the GDP, inflation and devaluation of the national currency.