A trip with a stopover in Santiago de Chile and later Washington D.C. as the final destination.
The Economy and Finance Minister, Richard Martinez, undertakes on Thursday 11 a journey that begins in the Southern Cone and tomorrow will take you to the Spring Meetings of the International Monetary Fund (IMF) and the World Bank, which began last Monday.
The agreement between Ecuador and the IMF plus six multilateral organizations is a central theme of forums, meetings and meetings in Washington these days. Banks, investment funds, among other organizations, will discuss the economic situation in Ecuador.
While they welcome the agreement reached with the IMF, they still have doubts that the measures proposed can be met due to the political weakness of the Ecuadorian Government. In this context, investors will seek to clarify their concerns about how the objectives will be achieved.
Today the financial multinational JP Morgan organizes a meeting to talk about the economic situation in Ecuador. EXPRESO learned that this Friday, the 12th, Martinez and the Vice Minister of Economy and Finance, Santiago Caviedes, will meet with investors.
While for Saturday, the Pan American Development Foundation (organism of the Organization of American States) organizes an event called ‘Ecuador, the social dimension of multilateral financing’.
The event, which is also organized by Analytica Investments, will be attended by high-level officials from the public, private, multilateral and non-profit sectors.
Renzo Merino, assistant vice president and analyst at Moody’s Investors Service, said it would be good for the government to communicate in its meetings with investors what their vision is regarding the adjustment plan under the agreement with the IMF and what specific measures will be taken.
Merino maintains that the market has taken the agreement between Ecuador and the Fund well and that has been reflected in the reduction of country risk. Yesterday, the indicator ended at 576 points, while in January of this year the figure exceeded 800 points.
“As more details are announced about the program and the government may be meeting the targets, the country risk has been improving,” says Merino.
While today’s trip to Chile aims to strengthen trade relations, both with the Government and with the private sector of that country, to become an associate member of the Pacific Alliance.
According to information from the Ministry of Finance, the delegation will also be made up of the Minister of Production, Foreign Trade and Investment, Pablo Campana, and representatives of the private sector. (I)