Ecuador: Selected Economic and Financial Indicators

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                             2000  2001  2002  Prel.  Proj.

                                               2003   2004

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  (Annual percentage changes; unless otherwise indicated)

            

National income and prices:

          

Real GDP                     2.8    5.1    3.4    2.7   5.4

Real GDP per capita          0.9    3.2    1.5    0.8   3.5

Consumer price index,

 end-of-period             -10.1   22.4    9.4    6.1   3.1

Real effective exchange

 rate (depreciation -)      38.7   39.3   10.1    0.0   ...

 

Banking system:

          

Liabilities to

 the private sector         8.5    24.2   18.4   18.7  17.3

Credit to the

 private sector            -5.1    16.9   13.6    4.5  15.0

EMBI Ecuador

(percentage points spread) 2,866   1,233  1,801   799   ...

 

                      (In percent of GDP)

            

Public finances:

 

Revenue                   27.6     24.7     26.0  25.5  27.1

Noninterest

 expenditure (1)          19.9     20.4     21.5  20.8  21.9

Primary balance

(deficit -)                7.7      4.3      4.5   4.7   5.1

Overall balance

(deficit -)                1.0     -0.5      1.0   1.7   2.2

Total public debt         91.4     70.2     58.2  53.2  47.2

Domestic                  19.4     15.7     11.3  10.6  10.2

External                  72.0     54.5     46.9  42.6  37.0

 

Saving, investment, and external balance:

          

National saving           25.4     22.4     22.8  25.0  26.4

Gross investment          20.1     25.7     27.7  26.7  23.6

Foreign saving

 external current

 account deficit (+)      -5.3      3.3      4.9   1.7  -2.8

 

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Sources: Central Bank of Ecuador; Ministry of Finance; and IMF staff estimates and projections.

(1) Includes unrecorded operations in 2001-03.

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(1) Under Article IV of the IMF's Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country's economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board. At the conclusion of the discussion, the Managing Director, as Chairman of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country's authorities.