The biggest challenges for Ecuador right now are in the political environment. This is clear from the public and economic sector, which analyzed the prospects for 2023.
Speaking about these economic and social perspectives after the elections in which the Government did not have majority support in the referendum it proposed, the General Director of the Central Bank of Ecuador, Guillermo Avellán, sees as major challenges the avoidance of political instability, in addition to facing an increase in the cost of external financing of the private sector, price volatility oil and increasing the risk of the country – an indicator that before the election was at 1,120 points, and now it is above 1,500.
Ecuador’s country risk has risen by 295 points and is now at 1415 points, after the 2023 election.
The ongoing labor reform to promote a more dynamic labor market, attract private investment and recover the construction sector are also mentioned as challenges.
“There are important developments in economic matters, however, at the moment the country’s biggest challenges are in political matters,” Avellán said in a debate “Post-Election Economic and Social Perspectives: Where Are We Going Ecuador 2023” held on February 13 by the University of the Holy Spirit (UEES).
These statements are collected by this study center and correspond to a space for analysis and reflection on the main economic, political and managerial considerations for decision makers in companies and organizations.
“Paradoxically, Ecuador currently has favorable macroeconomic conditions, in order to take advantage of them, it needs minimal stability”
“The state will not disappear, we are moving on, but we are far from the potential we have to grow as long as there is no great national agreement, no matter how utopian it may seem,” said the director of the Center for Economic and Social Studies for the Development of UEES, Alberto Dahik, who also participated in the event.
The dialogue was held with representatives of companies and unions such as the Samborondón Chamber of Commerce, Alessa Ecuador, Tesalia CBS, Casa de Valores Futuro, Ingenio San Carlos, Novacero, Barry Callebaut Group, J&H Consulting, Datos Ecuador, Calbaq, CrecosCorp and others.
Source: Eluniverso
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
