Ecuador: a challenging recovery
With severe earthquakes, massive debts and low crude oil prices, Ecuador’s way ahead appears uncertain. The country’s future is dependent on the outcome of the 2017 elections and a recovery in oil prices to get the economy moving again in the right direction under positive leadership. By Rob Roy, ROI Consulting, USA.
Ecuadorian cement consumption is expected to decline for the third-consecutive year in 2016 following a decade of mostly strong growth. This demand pattern closely tracks the up-and-down course of global crude oil prices as Ecuador, OPEC’s smallest member, has fallen on hard times, along with most major oil-producing countries. Government mismanagement, local corruption and natural disasters are also taking their toll on the South American country and its recovery is expected to be slow and challenging.