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  • Troubled Waters - WA#22
    Troubled Waters - WA#22

    Credit unions and mutual fund financial statements

  • Of each dollar lent as of March 2020, 45¢ were extended by private banks (excluding Banco del Pacífico), 34¢ by government-owned banks (including Biess, Conafips and Banco del Pacífico), 20¢ by credit unions (from all segments) and 1¢ for mutualists. (WA#22)

  • Based on very preliminary data, BCE General Manager Verónica Artola estimates that GDP fell –7.2% in the first quarter. (WA#21)

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Grupo Spurrier is the leading company in the development of key solutions and services for business success; it specializes in monitoring the economy and politics of Ecuador, as well as on economic research, market research, consulting and corporate training, models and business plans development, investment plans, and market power law consulting.

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Weekly Analysis Briefs

  • 22.- TROUBLED WATERS

    The fight against covid19 immediately deteriorated the quality of the credit union portfolio. Lockdown stopped production, causing a disruption in the payment chain, the past due ratio rose. This deterioration in the quality of the portfolio must be covered by the equity of the institutions. The Monetary and Financial Board ("The Board") authori...

  • 21.- RAZOR-THIN MARGIN

    It was close, but the government came out victorious from the Assembly, with both urgent laws approved, although it had to sacrifice the tax component of the Humanitarian Law. This law sets rules for emergency banking credit. The Fiscal Planning law sends the right signals to the multilateral institutions that Ecuador finally kicks off structural r...

  • 20.- WHEN AND HOW, RECOVERY?

    The authorities replaced the lockdown with a street light, granting counties the choice to either maintain the lockdown, or ease it up, moving to orange from red. So far no major county has opted for orange. Recovery would largely depend on moving to orange, but also on the existence of an international line of credit to grant liquidity to busin...