Since February of this year, this economic indicator rose every day by several factors. The Ecuadorian authorities will pronounce on Tuesday March 10 on the economic situation of the country.
On March 9, 2020, the country risk of Ecuador closed at 2,792 points, being the second highest in Latin America, surpassing that of Argentina, according to JP Morgan. The increase in this indicator is due to the fall in the price of oil, which registered its lowest price in recent years.
Since last February 3, 2020, the country risk passed one thousand points and was 1,033. Since then, this indicator reflects a daily increase due to several factors.
This March 9, a day after the price of oil worldwide plummeted in the US, European and Asian markets – in the case of Ecuador, the price of crude oil reached levels of less than $ 30 per barrel. Country risk stood at 2,792 points.
We are the second country with the highest indicator in Latin America, after surpassing that of Argentina, which closed today at 2,783 points. If the Government issues bonds at this time, interest would be around 30%.
Economists warn of serious deterioration of the economy due to several factors: the fall in the price of oil, the collapse of the stock exchanges, the delay in the disbursement of the International Monetary Fund (IMF) that Ecuador expected to receive in March and the lack of reforms.
Source: JP Morgan, ECB, Ecuavisa
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