*Ecuador’s country risk, which measures the uncertainty associated with investing in a country, has fallen to 1,750 points, according to the central bank (BCE). This is down from a recent peak of 2,039 points on 9 January, the day that President Daniel Noboa declared that Ecuador was in a state of ‘internal armed conflict’ after criminal groups launched a violent uprising. Nevertheless, country risk remains extremely high, with implications for government borrowing. Economy and Finance Minister Juan Carlos Vega acknowledged this shortly after President Noboa’s government took office in late November, saying that high country risk, which was then approaching 2,000 points, “excludes us from normal debt markets and further complicates efforts to attract investment”.
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