Ecuadoran president not to seek re-election in 2017

Ecuadoran President Rafael Correa on Thursday thanked legislators of his left-wing ruling PAIS Alliance for supporting his decision not to run for a third term in 2017, local media reported.

"I am very proud of my comrades in the assembly. They unhesitantly supported the amendment stating that those who are in office for two consecutive terms may not be re-elected in 2017," wrote the president on his Tweeter account.

Correa earlier proposed to include a transitional clause in a package of constitutional amendments currently being debated, which would not allow him to run again in 2017.

The assembly is expected to approve the proposal in December with a package of other 15 constitutional amendments.

Correa said that another candidate from his ruling party could beat the opposition. In this regard, he mentioned some figures as potential candidates, including former Vice President Lenin Moreno, current Vice President Jorge Glas and Interior Minister Jose Serrano.

Correa took office in 2007 and is serving a second term in a row.

He has maintained high levels of popularity since 2007. However, his approval ratings began to wane as falling oil prices have taken its toll on the economy.

Many believe that his decision to skip the 2017 presidential election is based on the nation's poor economic performance. While he will not stand in the 2017 elections, Correa could run in 2021. Endi