Ecuador will decrease until 2020, says the IMF

If the previous IMF forecasts had caused concern among economic actors and the denial of the Ecuadorian government, the latest report presents an even more complicated near future. Ecuador will decrease for five years in a row. Until 2021 the GDP figure will not abandon the negative sign before the number.

However, the forecast for this year has been softened. The IMF no longer estimates a GPD contraction of 4.5% but of -2.3%.

This is included in the report submitted by the officials of the international organization to the board, after visiting the country in May, just after the earthquake. The report accompanies the decision of the IMP of granting a quick loan that allowed Ecuador to access $ 364 million for reconstruction.

According to the multilateral body, this amount is intended to cover the gap in the accounts of the Central Bank of Ecuador when this anticipated part of the assistance, since only a portion of the funding will come from the Inter-American Development Bank, the United Nations or the CAF will be in the public accounts for 2016.