History

Ecuador belonged to the Inkas until the beginning of the 16th century. It became a Spanish colony after it was conquered in 1533, or 1534 by the Spanish. In 1809 the War of Independence began, leading to the victory of the Spanish in 1822. In 1830 the country was declared as being the Republic of Ecuador, even though civil war and restlessness were still being experienced.
In 1942 part of the country was lost to Peru. Between 1972 and 1978 there were a number of military dictatorships. In 1978 the people voted for a new system of government, and democracy returned.
In 1995 there was conflict regarding the border between Peru. This was solved peacefully after three years of discussion.
Foreign debt and inflation increased slowly until the economic crisis in 1999 lead to a mass protest, and one year later a state of emergency was declared. During this year, the President Jamil Mhuad was overthrown.
Despite much protest the currency of Ecuador, the Sucre, was replaced by US-Dollars in the year 2000.