Ecuador economy will increase by a 4% in 2014 and 2015, according to IMF

The International Monetary Fund (IMF) predicted an improvement in the economies of Ecuador, Colombia and Bolivia, despite the significant slowdown of the Venezuelan Gross Domestic Product (Gthe DP) and growth below expectations of Peru.

In its report released today, “Global Economic Prospects,” the IMF shows that a sharp increase in fuel prices will have a negative impact on the economies of the countries, excepting the case of oil exporters like Bolivia, Colombia, Ecuador and Venezuela, that will benefit from the increase.

The IMF maintains growth prospects of the Ecuadorian economy in 2014, which believes that GDP will increase by a 4%, and predicts a similar increase for 2015.

In its report, the financial institution expects a moderate growth in Latin America that reaches 1.3% in 2014, the lowest rate since 2009, however, it expects that the economy of the region rises by 2.2% in 2015.