Ecuador: 2005 Article IV Consultation—Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Ecuador

Author: International Monetary Fund

Volume/Issue: Volume 2006 Issue 098

Publication date: March 2006

ISBN: 9781451811827

$20.00

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Topics covered in this book

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Banks and Banking , Inflation , Economics- Macroeconomics , Public Finance , ISCR , CR , CPI inflation rate , deficit , minister , government , staff appraisal , Palacio government , government initiative , oil sector FDI inflow , housing rent inflation , Fiscal stance , Oil prices , Oil , Global

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Republic of Congo : 2001 Article IV

Summary

This 2005 Article IV Consultation highlights that despite a difficult political environment, economic growth in Ecuador is estimated to have exceeded 3 percent in 2005, with the non-oil sector expanding by 3½ percent. The strong growth in the oil sector that followed the completion of the new oil pipeline in 2003 has tapered off, but high oil prices have helped bolster confidence and underpin domestic demand. The external current account deficit is estimated to have remained unchanged at about 1 percent of GDP.