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How has Ecuador worked with the IMF to restructure its debt, and what are its next steps?

Broadcast on Dec 3, 2020 from Livestream: Bonds & Loans Latin America 2020 - Virtual Conference

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  • What components enabled a successful restructuring? What structures proved key?
  • What were the primary concerns of key stakeholders, how were the assuaged?
  • At what pace can fiscal adjustment and rebuilding of policy buffers reasonably take place? And what structural changes are required?
  • Fiscal discipline versus subsidising growth: What is the right balance of monetary easing, fiscal stimulus, debt management and building ratings?
  • How much confidence can be restored with IMF aid? What more is needed for countries to secure the long-term sponsorship of private sector investors?
Latin America

Speaker

Mauricio Pozo

Mauricio Pozo

Mauricio Pozo

Minister at Ministry of Economy and Finance, Republic of Ecuador

Economist, from the Catholic University. He has a Master in Economics from the University of Notre Dame. He has completed various courses and diplomas in Economics and Finance, both in the United States and in Europe, reaching Magna Cum Laude.

Between 1981 and 1988 he was an Economic Analyst, Director and Deputy Manager of the Operations Division and Technical Division of the Central Bank of Ecuador. Later, for three years, he was Economic Advisor to the Presidency of the Monetary Board.

From January 2003 to June 2004, he already held the position of Minister of Economy and Finance of Ecuador. Thus, he was also Principal Governor before the IMF, WB and IDB; President and member of the Board of Directors of CAF; President and Director of public institutions such as AGD, Banco del Estado, Internal Revenue Service, Central Bank of Ecuador.

For 25 years, he served as Executive President and founder of the Consulting Company in Macroeconomics and Multilink Finance. He has also been President and Director of several private companies, particularly in the financial, securities and health sectors.

He has been Professor, Dean and Director of Postgraduate Programs at various institutions: Universidad Católica, Instituto Tecnológico de Monterrey, Universidad de las Américas, Universidad San Francisco de Quito, Universidad Internacional SEK. Author of books and articles in specialised economics and finance magazines. Columnist for the newspapers HOY and El Comercio for two decades.

For his outstanding career, he has received recognition from King Juan Carlos I of Spain, the Quito Consular Corps, and has been appointed as Economic Analyst for The Economist Intelligence Unit of London and Economic Analyst for the Research International Institute firm in the United States.

Ministry of Economy and Finance, Republic of Ecuador