Ecuador Economic Outlook
March 12, 2019Ecuador finally struck a deal with the IMF at the end of February for a USD 4.2 billion Extended Fund Facility, that will support the economy over the next three years. The package forms part of a wider credit line of more than USD 11 billion from other multilateral lenders, which should help alleviate the dollarized economy’s liquidity shortfalls and revive lackluster growth while slashing spending. The funds will be front-loaded, that should enable the cash-strapped nation to meet its financing needs this year without having to tap into financial markets. The agreement was welcomed by the markets and spurred a rally in the country’s sovereign bonds. While national accounts data for Q4 2018 has yet to be released, the economy’s performance likely remained subdued in the quarter as tighter credit availability weighed on private consumption and investment. Persistently downbeat consumer sentiment has also curbed household spending.
Ecuador Economic GrowthWhile financial assistance from the IMF should help address structural imbalances within the economy and bring the external debt burden onto a more sustainable path, growth is expected to lose more ground this year as spending cuts and tighter credit conditions curb domestic demand. Government spending is set to decelerate sharply on the planned austerity measures, while private consumption growth will likely cool on reduced household incomes. Met the why particular panelists project an expansion of 0.8% in 2019, which is unchanged from last month’s forecast, and 1.2% in 2020.
Ecuador Economy Data
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|Exchange Rate||25,000||0.0 %||Mar 11|
|Stock Market||1,115||0.17 %||Mar 11|
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Ecuador Economic News
March 18, 2019
According to the monthly economic activity indicator (IDEAC, Indice de Actividad Económica Coyuntural) released by the Central Bank of Ecuador, economic activity picked up slightly at the start of the year, rising 4.7% over the same month of the previous year.
February 14, 2019
According to the monthly economic activity indicator (IDEAC, Indice de Actividad Económica Coyuntural) released by the Central Bank of Ecuador, economic activity accelerated for the tenth month running in December, expanding 6.6% over the same month of the previous year.
February 8, 2019
Consumer prices increased 0.47% over the previous month in January, following a 0.11% month-on-month rise in December.
January 18, 2019
According to the monthly economic activity indicator (IDEAC, Indice de Actividad Económica Coyuntural) released by the Central Bank of Ecuador, economic activity gained strength for the ninth consecutive month in November, growing 5.9% over the same month of the previous year.
January 7, 2019
Consumer prices rose 0.11% over the previous month in December, after declining 0.25% month-on-month in November.