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LATIN AMERICA: IMF Team Reported to be Visiting Ecuador for Loan Review

LATIN AMERICA
EM BulletBulletGlobalEmerging Market NewsRegion
  • "*IMF TEAM VISITING ECUADOR FOR REVIEW OF ONGOING EFF: MINISTRY" - BBG
    • We noted late last week that the IMF would soon send a mission to Ecuador regarding a review of its existing loan program. This comes at an important time for the country as the Government continues to deal with low water levels that have caused the reservoirs of hydroelectric plants that cover 70 percent of national demand to fall to critical levels in recent months.
    • Analysts have noted the associated blackouts are likely to translate into lower growth, higher unemployment and negatively impact fiscal revenues, while it is also likely to have an impact on the approval rating of the government ahead of a potential re-election bid for President Noboa.
    • Crossing the wires earlier today, President Noboa was hopeful the electricity crisis would be over by December, speaking in a television interview with broadcaster TC Televison late Sunday.
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  • "*IMF TEAM VISITING ECUADOR FOR REVIEW OF ONGOING EFF: MINISTRY" - BBG
    • We noted late last week that the IMF would soon send a mission to Ecuador regarding a review of its existing loan program. This comes at an important time for the country as the Government continues to deal with low water levels that have caused the reservoirs of hydroelectric plants that cover 70 percent of national demand to fall to critical levels in recent months.
    • Analysts have noted the associated blackouts are likely to translate into lower growth, higher unemployment and negatively impact fiscal revenues, while it is also likely to have an impact on the approval rating of the government ahead of a potential re-election bid for President Noboa.
    • Crossing the wires earlier today, President Noboa was hopeful the electricity crisis would be over by December, speaking in a television interview with broadcaster TC Televison late Sunday.