Reforming leader of Ecuador to carry on in charge (7)

I believe the answer is:

elastic

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'reforming leader of ecuador to carry on in charge' is the definition.
I can't judge whether this defines the answer.

'leader of ecuador to carry on in charge' is the wordplay.
'leader of' indicates taking the first letters.
'to carry on' becomes 'last'.
'in charge' becomes 'ic' (abbreviation for 'in charge').
The first letter of 'ecuador' is 'e'.
'e'+'last'+'ic'='ELASTIC'

Can you help me to learn more?

(Other definitions for elastic that I've seen before include "Material for bands" , "Stretcher" , "Like one across" , "Kind of band" , "Flexible (material)" .)

I've seen this clue in The Independent.

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