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  • Non-Payment of Bond Interest in 2020 - WA#14
    Non-Payment of Bond Interest in 2020 - WA#14

    Public debt and other liabilities 

  • Since the end of the oil boom in mid-2014, Ecuador’s indebtedness soared and therefore interest payments rose to 3.2% of GDP in 2019 from 1.4% in 2014. (WA#14)

  • Country risk closed February at 1,466 base points (14.66 percentage points), up 450 base points for the month. So far in March, country risk is up 4,597 points. (WA#13)

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Grupo Spurrier is the leading company in the development of key solutions and services for business success; it specializes in monitoring the economy and politics of Ecuador, as well as on economic research, market research, consulting and corporate training, models and business plans development, investment plans, and market power law consulting.

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Weekly Analysis Briefs


    Covid-19 found Ecuador vulnerable. The country was still struggling to overcome the imbalances generated during a poorly managed boom: unsustainable public sector accounts and competitiveness loss. The drop in oil revenues has raised the need for financing by more than $2.0 bn. The authorities announce that they will adopt extraordinary measures to...

  • 13.- GDP TO SHRINK

    President Moreno decided for quarantine and a curfew, March 17 through 31, to help contain the Covid-19 pandemic. The economy comes to a standstill. The strategy to contain this plague will probably require recurrent curfew periods. GDP will shrink at least 2%. Business and the self-employed are to be severely stressed by the quarantine, and gov...


    On March 10, President Lenin Moreno announced a national emergency package to deal with the deteriorating external environment. He expects this package to generate an additional savings of $2.3 bn or 2.1% of GDP. The heart of the program is a further reduction in public spending of $1.4 bn.   The new emergency plan will be additional to the IMF p...