The furies wait

Article Abstract:

Ecuador needs a loan from the International Monetary Fund as well as multilateral aid. The currency has lost value after the finance minister resigned over the budget deficit, and eight banks have been hit. Public finances have been affected by El Nino and low petroleum prices. President Jamil Mahaud took over in Aug 1998, and has been unable to tackle the problems. There are hopeful signs of decisiveness in Mahaud's bid to cut spending and his plans for privatizations. He is also developing links with the Democratic Left, which seeks income tax reform.

Political aspects

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Ecuador on the brink

Article Abstract:

Ecuador faces serious economic problems, defaulted on Brady bonds in 1999, and has seen a drop in the value of its currency, the sucre. President Jamil Mahuad is to dollarise the economy, and this could bring risks from external shocks. Ecuador has rigid labor laws, low tax revenues, a fragile banking system, and a large amount of external debt. Privatizations, tax increases, and more flexible labor laws are planned. There may be initial suffering as a result of the reforms, which could lead to political problems.

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Ecuador drifts between opportunity and deadlock

Article Abstract:

Ecuador's economic problems and economic policy are examined in detail, including political factors affecting economic policy.

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