Andean Group - August 2018 (ISSN 1741-4466)

ECUADOR | IDB cooperation. On 3 August Ecuador’s finance & economy minister Richard Martínez announced that the government led by President Lenín Moreno had agreed a total of US$600m in loans for this year. These include US$250m for the Quito metro which is currently under construction and US$100m for the disabled sector. He also revealed that the two sides had agreed a working plan for the next few years which comprised three planks: 1) sustainability, transparency & fiscal discipline; 2) productivity and competitivity; and 3) protection of vulnerable groups & social development. Of the first component, Martínez said that this would involve mechanisms aimed at improving transparency of public companies, while the second point would involve, among other things, creating a single window for investors and an initiative which would improve the efficiency of public red tape.

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