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  • Shielding Dollarization - WA#04
    Shielding Dollarization - WA#04

    Bank financial statements to December 31

  • At the end of the year there tends to be a money supply spike, inter alia, due to greater public obligations featuring end-year bonuses. This year the IMF disbursement also boosted liquidity. As of December 2020, deposits reached 37.6% of GDP, a y-o-y increase of 7.7 percentage points. (WA#04)

  • The price of Ecuadoran crude rose $1/b in November at $36.9/b. The markdown from WTI rose to $4.0/b. Based on the assumed prices for PetroEcuador and the price differential it is to expect that Ecuadoran crudes rose to about $43/b in December. On January 5, Saudi Arabia announced it was cutting its output 1M bpd in addition to its quota. There was a jolt to prices. Ecuadoran crude is now expected to rise to about $47.5/b in January. (WA#03)

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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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