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  • Debt To Be Reprofiled - WA#20
    Debt To Be Reprofiled - WA#20

    May indicators overview

  • Budget data for January-April show that current expenditures continue increasing. Total expenditures shrink exclusively on account of a capital expenditure cut. Available data for the consolidated public sector stops at January; that is the data that the IMF monitors. (WA#20)

  • Oil output is due to expand 9% in 2019, and further in 2020, thanks to the development of the Ishpingo field. However, environmental authorities denied operations 80% of the block, dooming the production target. (WA#19)

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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

  • 20.- DEBT TO BE REPROFILED

    The IMF mission is in Quito, reviewing fulfilment of goals as of March 31. They keep a watch on the targets for international monetary reserves and the deficit in public sector accounts, minus oil revenues. There should be no important commitment shortfall, if any. Next, the authorities are to engage in liability management, proposing bondholder...

  • 19.- 2019 OUTPUT OFF TARGET

    Drilling in Ishpingo has been downscaled to just two rigs from the original plan, as the government caves to pressure from environmental activists. The foreseen oil production peak forecast for 2020 now seems unlikely. The authorities still have hope of reaching 2019 goals with the development of the two rigs that remain in the plan, but the Minist...

  • 18.- BANKING REFORM COMING

    The IMF report on the Ecuadoran economy brings some observations on regulations of the financial system, and in the letter of intent the authorities vow overcoming them. A key concern has to do with the government?s hoarding of bank assets. Several measures are geared to return control over such assets to banks. Expect that interest rates will b...