Rafael Correa, Ecuador President And Late Hugo Chavez Ally, Sworn In For Unprecedented Third Term

In Ecuador, Rafael Correa was sworn in today for a third term as president after winning the February election with some 57 percent of the vote. He ran his campaign on a promise to "radicalize" his administration's socialist plan, though Correa, who holds a PhD in economics from the University of Illinois at Urbana-Champaign, has also sought to boost capital in the country by establishing a strong securities market.

Energy reform and expanded overseas trade were said to be at the top of agenda upon his swearing-in.

Correa's approval rating stands at around 90 percent. Ecuador's supreme court had ruled his pursuit of a third term legal despite a new constitution passed during his first term which limits the president to two terms. The court agreed with his argument that under the new constitution, his second period in office should count as his first.

Correa first took power in 2007 and will remain in office until 2017. He says this will be his last term.

Delegations from 90 countries attended his swearing-in, including representatives from Colombia, Bolivia and Chile, as well as Venezuelan president Nicolas Maduro, the successor to Correa's longtime ally and friend Hugo Chavez.