In this year, the lowest value was 774 points, on January 6
On January 31, 2020, the country risk passed 1,000 points this year. Until yesterday, February 5, the economic indicator was found at 1,040. For several factors, since mid-January, there is a visible increase in this value.
Among the causes, there is the fall in the price of crude oil due to low demand from China and the lack of ability to pay Ecuador’s obligations in case of not meeting the goals committed to the International Monetary Fund (IMF).
WTI crude in March contracts lost 1% when closing $ 49.61, a figure lower than that calculated for the 2020 budget proforma of Ecuador.
Until Wednesday, January 8, 2020, the country risk stood at 780 points. Since then, this economic indicator has been increasing.
January closed with 1,018 points, on February 3 it rose to 1,033, and on February 5, 1,040.
Several analysts and academics agreed that the situation with China and the coronavirus affects the country, due to the decrease in demand for crude oil and due to the decrease in demand for products.
Source: El Universo, ECB