Monday, September 21, 2020

Sep 21, 20/20 'Political Risk Analysis: What’s Ahead For Ecuador’s Economy In 2021?-

 Sep 21, 20/20 🛢️💵💳⚖️ 'Political Risk Analysis: What’s Ahead For Ecuador’s Economy In 2021?-

 "Ecuador was the first country in Latin America to experience a significant outbreak during the global Covid-19 pandemic. The country has been hit hard both by the virus itself and by the disruption caused by efforts to contain its spread. After growing by only 0.1% in 2019, Ecuador’s GDP is expected to contract by 8.7% in 2020. 




Meanwhile, the country’s embattled president, Lenin Moreno, has an approval rating of under 10%. With a presidential election on the horizon in 2021, Ecuador is at a crossroads. Ecuador’s economy is expected to bounce back in 2021, but the country’s next president will still need to rally support for reforms to the way pensions and state-owned enterprises are managed, and continue to look for ways to diversify exports. In 2019 oil accounted for over a third of Ecuador’s export income.

Encouraging investment and growth in new sectors will be essential for creating jobs and generating additional tax revenue. Foreign investors and executives doing due diligence on potential investment projects in Ecuador need to understand the country’s evolving political risk profile.

To discuss the current dynamic in Ecuador, I reached out to Sebastian Hurtado, the president of PRóFITAS, a political risk consultancy based in Quito, the country’s capital city.

Nathaniel Parish Flannery: Ecuador was in the news for being one of the first countries in Latin America to be hit hard by the coronavirus contagion. Where do things stand now? 

 


Sebastian Hurtado: If you look at public records for total deaths in the first 6 months of 2020, half of the 28,000 excess deaths occurred in April, with over 12,000, an increase of over 300%, occurring in Guayas province, the original epicenter of the pandemic. Since then however, in May and June deaths fell dramatically at a national level as the pandemic subsided in Guayas, most likely due to a certain level of immunity achieved in that region and protective measures. In July, deaths began to rise again as the virus advanced in other regions, including the capital, Quito, however, they stabilized in August.

The government responded to the virus initially through a strict two-month national lockdown in mid-March and the implementation of social distancing measures. Although the response was too late in Guayas, it has been successful in preventing the recurrence of the disaster scenario in the province, which made international headlines due to grim photos of bodies left in streets of the province’s capital, Guayaquil. The effect of these measures is that the curve of cases in other cities, notably the capital, Quito, has been much less steep, with the virus spreading slowly which has mitigated the strain on the health system. 


 

On the other hand, Ecuador has struggled to develop adequate testing and tracing infrastructure, limiting its ability to limit the virus’ spread further and raising worries about how recurring outbreaks can be effectively contained. Furthermore, as is the case in many developing countries, inadequate living and working conditions make social distancing difficult, providing ideal conditions for the virus to spread and further complicating the work of tracing teams......." -

https://www.forbes.com/sites/nathanielparishflannery/2020/09/21/political-risk-analysis-whats-ahead-for-ecuadors-economy-in-2021/?fbclid=IwAR0ub0vuaVux2wn6A4tRxKapF-iRLfZe9VyAUdrJUe9axhswcuzVZoo3AmY#c3d8d9054459

Wednesday, September 2, 2020

Wed 9/2/20/20 - Message for U.S. Citizens: American Citizen Services Newsletter-

 ACSGuayaquil@state.gov - Wed 9/2/2020 12:50 PM

Message for U.S. Citizens: American Citizen Services Newsletter-
"We are pleased to present the September 2020 issue of the American Citizen Services (ACS) Newsletter.
Articles in this issue include:
 
- President Moreno’s White House Visit-
 
 
- A Message from Ambassador Michael J. Fitzpatrick-
 
 

 
- Voting from Overseas-
  

- #COVID1984 💥 How to Stay Safe and Ecuador Border Closings 20/20 <a clear view vision year> 👀
 
 
- New Entry Requirements for International Visitors to Ecuador-
 

 
- Anti-Fraud Campaign: Ponte Pilas!
 
- Economic Impact Payments
 
- And More...
 
Please pass this newsletter on to any other U.S. Citizens in Ecuador and encourage them to enroll in the Smart Traveler Enrollment Program (STEP) at step.state.gov to receive our newsletters in the future...." -

WED Sept 2, 20/20 ☣️' Ecuador Opened Borders to All countries Without Quarantine-

 

WED Sept 2, 20/20 ☣️' Ecuador Opened Borders to All countries Without Quarantine-

- "COVID-19 continues to shake and hurt the world with more than 25 million cases and an unprecedented and, in some cases, devastating economic impact. 😷
 
Nevertheless, some countries have already started to stabilize the situation within their territories while waiting for a vaccine or treatment that would allow us all to fully retake our passion for traveling.
 
Ecuador has been one of the hardest-hit countries in South America, with an economic loss estimated at US 16,000 million. In an attempt to help the economy bounce back, Ecuador has created “Te lo Prometo Ecuador “,
 
....an ambitious national campaign centered on the new sort of “biosafe tourism” reactivation that promises to motivate people to travel and rediscover the country. But, first things first, where does the country stand regarding COVID-19? RELATED:– Colombia Gradually Reopening Borders – Peru Reopening Border – All You Need to Know – List of Countries Opened to US citizens 
 
Arriving in Ecuador – 
 
Restrictions and security measures for international visitors As in most countries that are reopening their borders to tourism, Ecuador demands visitors to bring proof of a negative COVID-19 PCR test result taken within 10 days before arrival and wear a face mask. 
 
Visitors will also be checked upon entering but as long as they do not show any symptoms that may alert the medical staff, entrance will be granted and no quarantine will be needed
 
If the traveler, however, does not bring the test results or if they have symptoms related to COVID-19 such as fever, dry cough, severe sore throat, or rapid breathing, they must immediately take a test, and quarantine for 14 days in an accommodation authorized by the government, all at their own expense......" -