Yes, "Econ." means Economista, in Ecuador and other countries. Specifically it means that the person holds a licenciatura (first degree) in Economics.

"Economista: Econ., Ec., no Eco."
http://www.eluniverso.com/2010/06/13/1/1363/esquina-idioma.h...

And this is certainly true of Correa:
http://www.presidencia.gob.ec/wp-content/uploads/downloads/2...

But titles of this kind, commonly used in Latin American countries, are very unnatural in English when rendered literally in English. You just wouldn't refer to Correa in this context as "the Economist Rafael Correa" or as "Rafael Correa, Economist". In English the only title that would naturally be included is "Dr." (with a point in American English, usually without a point in British English). And Correa does have a Ph.D. from the University of Illinois at Urbana-Champaign (see the second source cited above), as well as a number of honorary doctorates, so he's entitled to use this title. The context calls for formality, and there is a case for putting something to replace "Econ." so as to reflect his academic status, so I would advise putting "Presidency of Dr. Rafael Correa".