Committee on Balance of Payments Restrictions - Consultations with Ecuador - Basic Document Supplied by Ecuador - Overview of the Situation and Outlook for the Balance of Payments Taking into Account Intern[...]ffect the Situation - Revision
- WTO Secretariat
- 2009/06/12
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World Trade
Organization WT/BOP/G/15/Rev.1
25 May 2009 (09 2517) Committee on Balance of Payments Restrictions Original: Spanish
CONSULTATIONS WITH ECUADOR
Basic Document Supplied by Ecuador
OVERVIEW OF THE SITUATION AND OUTLOOK FOR THE BALANCE OF PAYMENTS TAKING INTO ACCOUNT INTERNAL AND EXTERNAL FACTORS THAT AFFECT THE SITUATION
Revision
INTRODUCtion
This document provides the technical background for the balance of payments safeguard measure adopted by Ecuador in January 2009 in order to protect the liquidity of its economy and prevent a sharp decline in economic growth against a scenario of serious external imbalances caused by the international financial crisis.
This document is set out as follows: the first section describes the economic reasons that led Ecuador to apply a balance of payments safeguard measure. It includes an analysis of Ecuador's balance of payments problems against the background of the global crisis, evaluating the latt