The country risk of Ecuador once again exceeded the limit of 2000 points, the Central Bank of Ecuador reported. This indicator, which is measured by investment bank JP Morgan, measures the market’s perception of greater or lesser fear of defaulting on its debt obligations.
Thus, on November 30, this indicator amounted to 2,016 points. The day before, it was 1,996 points. However, this value does not exceed 2054 points, which was the peak that Ecuador reached in these weeks, after the statements of the president Daniel Noboa who spoke about the possible default.
On that topic, Ramiro Crespo, president of Analytica Securities, said that the market is currently in a phase of uncertainty about what could happen with Ecuador. In any case, he commented that the drop in the price of crude oil recorded these days must have contributed to this indicator.
Indeed, this Friday oil prices continued to fall, reports portalpreciopetroleo.net. The portal indicated that “the market does not seem convinced that the latest round of OPEC+ production cuts can lift crude oil prices from their recent slump.”
Source: Eluniverso
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