He risky country of Ecuador suffered an upward adjustment, stands at 1,823 points at the close of business on Tuesday, November 7. Indicator rose by 74 points compared to the previous day. The increase coincided with the visit of the newly elected president Daniel Noboa in the United States and the drop in international oil prices.

The country risk is prepared by the investment bank JP Morgan and represents a type a thermometer that measures market perception on the solvency that the state has in relation to its obligations abroad. The higher the financial ratio, the less favorable the perception of investors and creditors.

The increase in the indicator, which previously stood at 1,749 points, occurred after the newly elected president said on Monday, November 6, in Washington, that Ecuador leads risk of occurrence default public debt in 2026 or 2027 if the country does not increase public revenue. What was said raised alarms about the situation in Ecuador in the short and medium term.

In order to avoid debt and fund his government plan, Daniel Noboa expressed that he needed a “bridging loan” multilateral credit organizations and announced that he will present a tax reformin order to stimulate economic recovery by reducing taxes.

On Tuesday, November 7, the newly elected president held a meeting with the directors of JP Morgan in New York. The meeting analyzed Ecuador’s economic situation and plans to improve the economy, attract investment and create jobs, according to a statement released by Noboa’s team.

The drop in the price of oil This is another factor that affects the deterioration of the country’s risk. The price of a barrel of crude oil West Texas Intermediate (WTI), which serves as a reference for Ecuador, fell on Tuesday by $3.45, closing at a value of $77.37. This is the lowest price since July 2023.