International Reserves in Ecuador
Ecuador - International ReservesWhile the latest data for the third quarter provides some respite following the weakest outturn in nearly three years in the second quarter, the overall picture remains challenging. Activity rebounded in August following four consecutive months of contraction as petroleum production was ramped up to cash in on higher oil prices. Moreover, bank lending to the private sector bounced back in August after slipping to a 30-month low in July, thus easing constraints on household spending. The government is struggling to deliver on its IMF-mandated fiscal consolidation goals, however, and is unlikely to meet this year’s target. The budget shortfall widened in July, with the 12-month rolling deficit exceeding the IMF’s projection for the year. Meanwhile, the government reinstated fuel subsidies on 13 October after a fortnight of intense protests and, on 18 October, consequently proposed tax reforms in a bid to shore up public finances.
Ecuador - International Reserves Data
|International Reserves (USD)||4.4||4.0||2.5||4.3||2.5|
5 years of economic forecasts for more than 30 economic indicators.
Ecuador International Reserves Chart
Source: Central Bank of Ecuador and FocusEconomics calculations.
|Exchange Rate||25,000||0.0 %||Sep 04|
|Stock Market||1,329||0.17 %||Sep 04|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Ecuador: President Moreno announces tax reform as government struggles to alleviate fiscal challenges
November 1, 2019
In a bid to shore up public finances in accordance with its IMF-program, on 18 October President Lenín Moreno proposed a package of tax reforms, including a new tax on corporations earning more than USD 1.0 million, a tax on plastic bags and cigarettes, along with a simplification of the tax system.
October 4, 2019
Consumer prices came in flat over the previous month in September, following a 0.1% month-on-month drop in August.
October 1, 2019
The economy lost traction again in the second quarter, with GDP growth in annual terms halving to 0.3% from 0.6% in the first quarter, marking the slowest pace of expansion since Q3 2016.
September 11, 2019
Economic activity rose 2.0% over the same month of the previous year in July, according to the monthly economic activity indicator (IDEAC, Indice de Actividad Económica Coyuntural) released by the Central Bank of Ecuador.
September 5, 2019
Consumer prices declined 0.1% in August, contrasting a 0.1% rise in July.