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  • Downgraded - WA#08
    Downgraded - WA#08

    February indicators overview

  • Country risk closed January at 1016 base points (10.16 percentage points), up 190 base points for the month. So far in February, country risk is up 120 points. (WA#08)

  • Starting in December of 2018, yield of investment in stock slows down. At December 2019, they yield 2.3% y-o-y according to the BVG’s IRECU index, which includes share price and dividends. According to the BVQ’s Ecuindex, which only includes share prices, yield was .2%. (WA#05)

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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


    Moody?s downgraded Ecuador sovereign bonds to Caa1, deep into junk territory. Some investment banks think it is a premature downgrade, as it centers on problems that may arise with the amortization of 2022 bonds. The downgrade comes amidst indications that there is not going to be much adjustment, as neither elites nor population at large realize t...


    The BCE estimates that the economy would stop contracting in 2020 and reach a y-o-y expansion of .7%. This reversal in the trend is the result of a change in the fiscal adjustment strategy. Public investment will once again be the engine that drives the economy, but as in the past, the thrust will not be sustainable.   The reason why growth is so...


    In November, the National Assembly rejected an urgent economic bill that included important reforms to modernize the Ecuadorian financial system. The reform sought to adapt the current legislation to international standards, overcoming the excess of the State intervention power of in the financial system. The government has pledged to send again, i...