The Ecuadorean President, Mr Lucio Gutierrez, elected last year on an anti-corruption ticket, said today he suspected corrupt bankers or businessmen were behind a $1.5 million contract on his life.
Ecuadorean police say two Ecuadoreans traveled to Cali, Colombia, in February to meet the alleged hit men and pay part of a $1.5 million fee for the assassination.
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In an interview with Colombia's Caracol radio today, Mr Gutierrez said, "We knew that when we started the war on corruption in a country like Ecuador, there would be all kinds of reactions.
"It could be corrupt bankers who we want to extradite from the United States and people linked to some indebted businesses ... that owe Ecuadorean banks millions," he added.
Still, Mr Gutierrez said he was not afraid. "I'm relaxed and obviously it will be God who ultimately decides when I'll have to check out," he said.
The Ecuadorean leader asked US President Mr George W. Bush and US Attorney General Mr John Ashcroft in February to deport Ecuadorean bankers accused of embezzling and improper use of bank funds.
Ecuadoreans blame corrupt bankers for a large part of a 1998-2000 banking crisis that saw more than half of the financial system crumble and led then-President Jamil Mahuad to freeze savings accounts to halt the run on deposits.
News of the assassination plot against Mr Gutierrez came from an unidentified informant, who tipped off the United Nations office in Bogota, Colombia.
Police in Ecuador and Colombia are still investigating the alleged plot, and say they have no clear answer on who wanted to kill Mr Gutierrez, a retired army colonel who led his troops in support of an Indian uprising that toppled Mr Mahuad in 2000.
Gripped by guerrilla war and the world's largest cocaine trade, Colombia is ripe with contract killers. Some hit men are as young as 12 and work for petty cash, while others are experienced killers who work in teams and charge thousands. A contract for more than $1 million is extraordinary.