• ENGLISH
  • ESPAÑOL
facebook
twitter
  • National>Entertainment
  • National>Local Economics
  • National>Local Politics
  • National>Society
  • National>Sports
BREAKING NEWS
Almost half of the rural population lives on less than USD 2.80 a day
The unemployment rate for women increased from 5.7% to 7.4% between 2019 and 2020
In one year, more than 650,000 people lost their jobs; index would recover in four years, according to experts
Information technology (ICT) reduced the digital divide in the country
Fishing sector rejects proposal to expand the Galapagos marine reserve
Municipality of Guayaquil announces that it will acquire the Russian vaccine Sputnik V, the Chinese Sinovac and the Oxford doses
Flights in Ecuador fail to recover the frequencies of before the pandemic
Achievements of digital transformation are exposed in “A Digitized Country, A Modern Country”
Yaku Pérez: ‘I am not a supporter of violence; I am adept of a resistance ‘
If the bill for the Defense of Dollarization in Ecuador is not approved, the next IMF disbursement of $ 450 million would be put on hold

IMF sees the pact with Iran as bad news for oil exporters

Posted On 16 Jul 2015

 

Imagen: EFE

Imagen: EFE

For Latin American exporting oil countries is bad news the agreement between the US and Iran because it will mean an increase of between 500,000 and 800,000 barrels a day in oil supply, said the International Monetary Fund.

“It now faces an additional fence which will be the additional supply from Iran,” said Alejandro Werner, chief economist for Latin American IMF, at a press conference Alejandro Werner, who indicated that the expected recovery in the medium term of the oil price, which he described gradual and still below the levels reached in 2013.

The entity expects that a barrel of oil will cost an average of $ 59 this year. The greatest impact was felt a year ago with the drastic fall in prices, so that countries like Mexico and Ecuador are on the way to implement fiscal adjustment to mitigate the drop in revenues, Werner said.

But the expert said that Venezuela will have this year an inflation of over 100% and added that there has been no announcement from Caracas in the framework of fiscal and monetary policy in the medium term “involving setting and correction of imbalances.”

Although he kept his forecast that the Venezuelan economy will contract this year by 7%, last week, the IMF adjusted downwards its forecast for growth of the regional economy with regard to the forecast it had issued in April and stood it at 0.5 % this year and 1.7% the next.

Werner said Wednesday that the downward adjustment for 2015 included Chile (0.2), Colombia (0.4%) and Peru (0.6%), while it adjusted upwards the forecast for Argentina (0.4 %).

The economist emphasized an increase in investment and productivity as priorities that governments should focus in the region to reverse the downward trend of the last five years.

Source: http://www.eluniverso.com/noticias/2015/07/15/nota/5020888/fmi-ve-pacto-iran-como-mala-noticia-exportadores-crudo
About the Author
  • google-share
Previous Story

The price of WTI per barrel lost 54 cents

Next Story

Slight rise in oil prices

SEARCH

LATEST NEWS

Almost half of the rural population lives on less than USD 2.80 a day

Posted On 04 Mar 2021

The unemployment rate for women increased from 5.7% to 7.4% between 2019 and 2020

Posted On 04 Mar 2021

In one year, more than 650,000 people lost their jobs; index would recover in four years, according to experts

Posted On 04 Mar 2021
Copyright © 2010 - 2019. All Rights Reserved. EcuadorTimes.net