The country risk for Ecuador was located this January 25 at 1709 points. A figure that confirms the downward trend of this indicator that measures the market’s perception of the country’s ability and intention to settle its debts towards international markets.

This caused the country’s risk to plummet, falling by 330 points since January 9, when it hit a high of 2,039 points, which coincided with the announcement of an internal armed conflict to combat the drug-criminal mafia. Only in the last week from January 18 to 25, the same rating fell from 1,879 points to 1,709, that is, it recorded a drop of 170 points.

From that moment Ecuador took a clearer course on the economic issue, since it was honest about the financial problems and took measures and sent an urgent economic project that seeks, through VAT and other measures, to get more funds to finance the war, but also to cover the enormous financial a deficit reaching at least $5.5 billion, although financing needs would be $14 billion, including arrears.

Another factor that could influence the decline are the approaches that the Government had towards multilateral companies and investors in the USA.

Indeed, today is the last day of the meeting of state bodies and international cooperation. Between January 22 and 26, the Minister of Economy and Finance, Juan Carlos Vega, held a series of meetings with various United States government bodies, credit organizations and investors. With them, we sought to examine funding opportunities for Ecuador that support social projects, the protection of the most vulnerable and the reactivation of the economy. The IMF is among the organizations with which there was access.

Due to priority attention to the extraordinary situation in which the country finds itself, due to the internal conflict, Minister Vega attended the meetings via telematics, from Quito.

The Minister also delegated Ana Cristina Avilés, Deputy Minister of Economy, to personally attend certain working meetings in the US capital.

The government of the President of the Republic, Daniel Noboa, is working on a solid economic plan that seeks to ensure the well-being of all Ecuadorians and gain the support of the international community, the Ministry of Economy and Finance announced.

These days, former Minister of Finance Fausto Ortiz commented that the country’s risk will decrease and that one of the reasons will be precisely the Government’s proposal to raise the VAT and thereby generate permanent funds. He also hinted that the possibility of approving the VAT of 15 percent would be through the mechanism of the Ministry of Law, that is, when 30 days have passed since the proposal was sent, and there are no votes either for approval or rejection.

Valentina Centeno, the president of the Commission for Economic Development and head of the ruling party, said about this issue that the entry of the Ministry of Law is not on her radar.