Born on April 6, 1963 in Guayaquil, Ecuador. Ecuadorian politician and current President of the Republic of Ecuador, Rafael Correa is has an estimated net worth of $2 million. Delgado was educated in his native country, Belgium and the United States; he holds a degree in economics. He was elected president in late 2006 and took office in January 2007. He is also the former president pro tempore of the Union of South American Nations. In December 2008, he declared Ecuador’s national debt illegitimate, with regard to the argument that the debt was contracted by corrupt and tyrannical previous regimes. He announced that the country would default on more than $3 billion worth of bonds; he then pledged to fight creditors in international courts and was successful in reducing the price of outstanding bonds by over 60%. In June 2009, Correa brought Ecuador into the Bolivarian Alliance for the Americas. His administration have been praised for reducing the high levels of poverty and unemployment in Ecuador. Nevertheless, he has been accused of authoritarianism, nepotism, attacking dissidents and curtailing freedom of speech. Correa’s first term in office was due to end on January 15, 2011, but the newly approved constitution written by the new National Assembly mandated general elections be held on April 26, 2009. In that election, he beat out opponents in the first round with 51.9% of votes counted, while in the 2013 general election, he was elected president for a third time with 57% of the vote.