Ecuador’s sovereign bonds surged after the country’s electoral authority declared President Daniel Noboa the winner of Sunday’s election, giving him a full four-year term to try to rein in cocaine violence and rouse the economy from its lost decade.

Ecuador's President Daniel Noboa claimed a runaway reelection victory after campaigning on a promise to take an "iron fist" to the country's drug cartels.

Ecuadorans began voting Sunday in a too-close-to-call presidential election pitting the incumbent, security hawk Daniel Noboa, against a charismatic leftist challenger in a country plagued by drug-related violence.