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Andean Group - October 2015 (ISSN 1741-4466)
ECONOMY: Growth downgrades coming thick and fast
The government led by President Rafael Correa is steeling itself for a very difficult year. The economy slumped to post growth of a meagre 1% year-on-year in the second quarter, according to figures released by Ecuador’s central bank (BCE) on the final day of September. Not since Correa came to power in 2007 has quarterly growth been so low. It moved the BCE to revise down its GDP growth forecast for 2015 to a paltry 0.4%. As one commentator noted acerbically, annual GDP growth is being revised downwards faster than ‘Dhruv’ helicopters are falling out of the skies (see next story).
- A blank cheque
- ECONOMY: A refined balance
- SECURITY: How safe is Bogotá?
- POLITICS: Morales a step closer to seeking a third term
- DIPLOMACY: Morales hails ‘victory’ against Chile
- POLITICS: Correa moves into conciliatory mode
- ECONOMY: Growth downgrades coming thick and fast
- SECURITY: Defence minister ends Dhruv contract
- POLITICS: Social unrest and political turmoil continue to dog Humala
- ECONOMY: TPP under scrutiny
- ECONOMY: Maduro govt. doubles the budget
- Bolivia and Venezuela firm up ties