The Central Bank of Ecuador (ECB) delivered a new liquidity facility to the Government. This time for $ 547 million. As can be seen in the website of the institution within the investments it makes in the Bank for the benefit of the Central Government. To date, the regime due to the Bank is $ 4.846,6 million.
The operation was recognized yesterday by the coordinating minister for Economic Policy, Diego Martinez, who weeks ago had mentioned that due to the recovery of the economy possibly would not be new liquidity requirements to the ECB, and rather, it would make a substantial payment of this obligation (which is not accounted for as debt).
On the subject, Martinez said that in 2016, the liquidity facilities were given in the amount of $ 3,000 million and in 2017, in view of that has already been past the difficult stage, it has become this new, but of lesser magnitude. He explained that the resources were to close outstanding accounts of Finance with private sector and regional governments. "You have to be responsible, to leave closed the arrears and paid the bills," he said.
a few days Ago, the Government placed bonds for $ 1,000 million in the international market with an interest of 9.1%.
Jaime Carrera, executive director of the Observatory of Fiscal Policy, commented that with these measures, the authorities are losing credibility. In addition, he argued that this leaves them more vulnerable to public finance and the setting for the next government have to be stronger. He explained that the money provided by the ECB does not belong to him, but which are deposits of public banks, IESS, autonomous governments, among others.
on Monday, the Ministry of Finance announced the payment of arrears to the sectional for $ 786 million. Only $ 320 million were in cash. The rest of you was going to do in TBC (papers of the Center for tax payments) with support from the Development Bank (BEDE).
How were the arrears in 2016? According to the website of Finance, in 2016, the difference between what is paid and what is due (arrears) was $ 819,55 million, and in 2015 the gap was much greater: $ 2.546,06 million. The minister of Finance, Patricio Rivera, explained that the past year had a significant debt with entities interpúblicas as sub-national governments. And indicated that in 2015, the total arrears of about $ 1,500 million corresponded to the private sector. (I)
819
millions of dollars
it was the difference between the expenses paid and accrued in 2016. These are the arrears of the year.
No comments:
Post a Comment