*Ecuador’s country risk has risen following the
surprise replacement of economic and productive development minister
Sariha Moya on 28 September. Country risk hit 496.37 points on the day of Moya’s exit, its highest level since March, before easing to 490.4 points yesterday. A week ago, on 23 September, country risk had stood at 432.14 points. Moya, who had served as finance minister since April 2025 and in June this year was given an expanded brief as head of the new economic and productive development ministry, was replaced by
Bernardo Cordovez, the former head of the social security institute (IESS). The reasons for Moya’s departure remain unclear. Despite the rise in country risk in recent days, investor confidence has grown substantially since President
Daniel Noboa won re-election in April 2025, with country risk having fallen from a peak of 1,870.77 points that month.
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