Ecuador : 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Ecuador

Author/Editor:

International Monetary Fund. Western Hemisphere Dept.

Publication Date:

October 21, 2015

Electronic Access:

Free Full Text (PDF file size is 3005 KB).Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This 2015 Article IV Consultation highlights that since the fourth quarter of 2014, the economy of Ecuador has been hit by external shocks and is slowing down. The sharp decline in the international oil price, by about half for the Ecuadorian mix, significantly undercut oil revenues. In addition, competitiveness is being eroded by the real appreciation of the exchange rate. In the face of the economic slowdown, bank liquidity conditions have tightened, credit growth has slowed, and nonperforming loans have risen. Despite the slowdown, inflation is picking up. Owing to the shocks and expected adjustment, the economy is projected to contract somewhat in 2015, while the external position deteriorates.

Series:

Country Report No. 15/289

Subject:

English

Publication Date:

October 21, 2015

ISBN/ISSN:

9781513519074/1934-7685

Stock No:

1ECUEA2015001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

79

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