Hey- I know I owe you an answer on this and sorry it has taken me a bit. As for Ecuador, I don't work here, I work online, so I'm a little bit out of touch with certain parts of the economy. But, it's still very cheap to live here although I do see some effects of inflation.
My understanding is Correa (the former President) put the nation into massive debt to China. Obviously this is not good and will hurt them long term, and they may even be suffering a bit from it right now, so I would expect things to get worse here over time.
I've heard Peru is doing well as they have a bit more of a free market.
If you can work online I think you should check it out. And if you can't work online yet, check out Upwork.com and consider taking classes to learn some skills so you can. Then move down here and live well while being able to get ahead at the same time.
My $.02 anyway. Did you have other questions? Maybe about specifics that I can help you with?
RE: South American Economies!?!?