Ecuador’s country risk dropped to 952 points

This indicator was not below 1.000 points since March 2019.

The country risk indicator for Ecuador reached 952 points, thus registering a reduction of 1.900 points in 24 hours. This record is the lowest for the country since March 2019.

The Ministry of Economy and Finance announced that the country registered a fall of 5.111 points since March 23, 2020, when it reached its highest point in recent years with 6.063 points.

🔴 #ATENCIÓN l Ministerio de @FinanzasEc informa que Riesgo País descendió a 952 puntos, registrando 5 111 puntos menos desde su pico más alto el 23 de marzo de 2020. pic.twitter.com/HCM93zTYit

— Pichincha Comunicaciones (@pichinchauniver) September 11, 2020

The President of the Republic, Lenín Moreno, also highlighted this fact and attributed this result to the “good economic policies that his Government has adopted”.

“The country risk falls again by 1900 points in a single day and places us below 1000 for the first time since March 2019,” Moreno stressed on his Twitter account.

¡Siguen las buenas noticias, la responsabilidad trae resultados para #Ecuador!
El riesgo país vuelve a bajar en 1900 puntos en un solo día y nos coloca por debajo de los 1000 por primera vez desde marzo de 2019. #SembramosFuturo con trabajo duro y decisiones firmes. https://t.co/AsatbWyVR4

— Lenín Moreno (@Lenin) September 11, 2020

Country risk measures the probability that a nation will default on its credit obligations. The higher it is, the riskier the country is and, therefore, the markets charge higher interest to that nation when it seeks financing.