Latinnews Daily - 14 December 2017

Ecuador: Finance & Economy Minister Carlos de la Torre has said that he expects that Ecuador's economy will close 2017 with 1.5% GDP growth. This is in line with forecasts made on 7 December by Ecuador’s central bank (BCE) but well above the 0.2% forecast made by the International Monetary Fund (IMF) in October. Ecuador’s GDP contracted by 1.5% in 2016, which the government attributed to the drop in international oil prices, the appreciation of the US dollar, and damage to infrastructure following the earthquake which struck the country in April 2016. In its most recent (October) report, the United Nations Economic Commission for Latin America & the Caribbean (Eclac) is forecasting 0.7% GDP growth for Ecuador in 2017.

End of preview - This article contains approximately 123 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial