The Central Bank still does not publicly share his estimates and said that Ecuador will recover by the end of the year. “The analysis of the advanced economic cycle shows that during the second half Ecuador would have a recovery stage,” predicted last week general manager Diego Martinez, as published by the institutional website.
The United Nations Economic Commission for Latin America and the Caribbean estimated this week that Ecuador would decrease by 2.5% this year, despite the country bet on a positive figure in December 2015. Half a year ago, the Cepal believed that Ecuador could keep up with a 0,3% GPD growth.
The most ominous of all the multilateral agencies was the International Monetary Fund. In April it drastically lowered its forecast for 2016. If last October it had said that Ecuador would close this year with a 0.1%, in April, before the earthquake occurred, it had already lowered its forecast at -4.5%.(I)