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Economy & Business - November-December 2012 (ISSN 1741-7430)
ECUADOR: Large deficit for 2013
On 12 December Ecuador’s finance minister, Patricio Rivera, revealed that the administration of President Rafael Correa is projecting a US$6bn fiscal deficit next year, for which the government has already secured financing. According to Rivera the majority of the financing will be by way of conditional loans that have already been awarded to the country, while “an important sum” is already freely available given that Ecuador has barely used the US$2bn credit line it secured from the Chinese government in June this year.
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