2023-10-20 16:02:25
Daniel Noboa’s victory in the early presidential elections on Sunday, October 15, 2023 has had a positive impact on Ecuador’s economy, reflected in a significant decrease in country risk. This indicator, which evaluates the probabilities that a country will not be able to meet its external debt payments, stood at 1,733 points on Wednesday, October 18, 2023, according to the report from the Central Bank of Ecuador (BCE).
This number represents a decrease of 106 points compared to the 1,839 points that were registered on Friday, October 13, just before the elections in which Daniel Noboa obtained 51.8% of the votes, surpassing Luisa González, candidate of the Revolution. Ciudadana, which obtained 48.1%.
It is important to highlight that before the first round of the elections, the Ecuadorian risk premium had exceeded the barrier of 2,000 points. However, during the electoral process, this index remained below that threshold.
The reduction in the country’s risk has been maintained even after the popular consultation on August 20, which coincided with the first round of voting, and in which it was voted in favor of ceasing oil exploitation in block 43 ITT of Yasuní, one of the main oil deposits in the country.
Despite the economic challenges facing the new Government of Daniel Noboa, such as a deficit that exceeds 5 billion dollars, limited tax revenues and limited external financing options, his victory in the elections has generated an environment of greater confidence in the economic and financial stability of Ecuador. This positive trend in country risk is a reflection of the hope that the new Government can address the country’s economic challenges effectively.
(ecuadorenvivo.com)
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