The results of the last Popular Consultation were liked by Wall Street, as the stock market woke up accordingly today, April 22, 2024. This was reflected in the increase in prices of Ecuadorian debt bonds in the international market, despite having lost in questions related to economic reforms: hourly work and arbitration awards.
Financing and credits are opened for the country
Bonds opened 1.2 points higher than Friday on average. This implies that the short-term political risk is quite low (based on these results) for the markets, reported EMFI, a British financial firm.
Noboa passed the general test, said the JPMorgan bank, and Bloomberg, the agency specialized in financial information, reported that Ecuadorian debt papers were the best performers at the opening this Monday, Expreso reported.
The popular consultation had been considered, for foreign financiers and investors, as a “test” for Noboa in terms of his governability and his ability to implement political reforms and seal an agreement with the International Monetary Fund (IMF)
months agoace, Daniel Noboa He had mentioned that he hopes to implement some complicated measures after the consultation, such as targeting fuel subsidies, which is also expected in the new program with the International Monetary Fund.
However, in the long term, investors are afraid that in 2025 Correism will once again want to become President and predict, in that context, slight “political instability.”
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