Impacto económico y social a causa de la volatilidad en el precio de barril del petróleo en la economía ecuatoriana y el riesgo inminente ante productos sustitutos.

Abstract

The following document highlights a deep analysis about the social and economic impact that has arisen within the Ecuadorian economy as a result of the fluctuation of the oil price worldwide. The document also details the current situation in regards of the public finances, the public debt that the country has acquired and how will be able to cover such long term liabilities, in order to strengthen the name of the country overseas and upgrade our current country-risk ratio. Likewise, the document highlights the current problems within the private sector, both the Ecuadorian families and companies throughout the country, in regards of the available liquidity to acquire debt, how the amount of loans has decreased, despite the available funds in banks. Finally, a brief analysis on the future of the oil industry, the changes that have taken place within this industry, and the threat of new substitutes worldwide that eventually will make the oil market disappear. Doing a summary of all the points stated above, the document provide advices and suggestions in order to overcome the current and potential problems in our country, showing political and economic models to be followed which will put the country into the right path.