January 11, 2019 |
Fitch Ratings has given Ecuador's credit ratings a negative outlook, citing "relatively large fiscal financing needs" and "uncertain access" to funding sources.
"A faster fiscal consolidation to reduce the funding gap is difficult and uncertain, especially as it could bring additional challenges for Ecuador's economic and political outlook," Fitch said in a report.
"Ecuador's low level of international reserves and resulting weak external liquidity are an additional consideration," it added.
Sovereign issuer faces large financing needs and uncertain market access, rating agency says