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IMF estimates that Ecuador will not grow this year
Posted On 07 Oct 2015
Image: EL Universo
With a day apart, the new forecasts of the International Monetary Fund (IMF) were presented yesterday in Lima, which are much more daunting than those of the ECLAC (Tuesday in Santiago) for Ecuador and Latin America and the Caribbean.
The fund expects that Ecuador closes this year with a decrease of -0.6%, while until April it pointed out an expansion of 1.9%. For 2016 it forecasts a modest 0.1%.
Meanwhile, the ECLAC (Economic Commission for Latin America and the Caribbean) suggests that Ecuador will grow 0.4%, which coincides with the estimates announced by the government last Thursday.
According to the IMF report, the decline in the country’s growth forecasts are attributed to drop in oil prices ($ 46.9 per barrel from January to July) and the strengthening of the US dollar.
