The Noboa government is pursuing a security crackdown and fiscal consolidation under an IMF programme, citing a 2026 S&P upgrade and rising FDI. El Niño reconstruction and fuel subsidies are the main fiscal risks for 2027.
What a Korean company can do now
Government · leader
President Daniel Noboa (head of state and government; second term from May 2025 to 2029)
Key national agenda
- Fighting organised crime and improving security
- Deficit reduction under the IMF programme (2027 target 0.9% of GDP)
- El Niño recovery and local infrastructure investment
- Transmission grid and renewable expansion
- Wider trade deals such as the Korea SECA and non-oil exports
Government programmes
2026 General State Budget$46.26bn incl. debt service
Revenue $30.12bn, spending $35.53bn; $46.26bn including debt service. Approved by the Assembly on 29 Nov 2025
2027 budget proposal and Annual Investment PlanInvestment plan about $3bn (single source)
Government proposes an investment plan of about $3bn; under Assembly review. Deficit target 0.9% of GDP
World Bank local infrastructure programme via BDEUp to $800m over 10 years; phase 1 of $250m committed
Loans to local governments for energy, transport, urban development, disaster risk and housing. Phase 1: $200m World Bank plus $50m AECID
IDB transmission grid and Amazon electrification$300m (IDB $270m + CTF $30m)
Upgrade of 700+ km of lines, more renewables, grid connection for about 5,600 Amazon households by 2031
Ecuador-Peru 500 kV interconnection (Ecuador section)Reference budget $270.9m
CELEC EP Transelectric tendered substations and lines in two lots (bids closed Apr 2026); co-financed by IDB and EIB
IDB public procurement (SERCOP) modernisation$22.95m
Stronger procurement governance, a new integrated digital platform and cybersecurity
Business opportunities
PMO and feasibility consulting for local infrastructure
🔒 Why-now and buyers — analysis member ₩19,800/mo
Open this week
Transmission/substation equipment and grid engineering
The IDB grid project and the Peru interconnection are under way.
CELEC EP, Ministry of Energy and Mines
E-procurement and public finance platform
🔒 Why-now and buyers — analysis member ₩19,800/mo
Construction machinery parts and heavy equipment
🔒 Why-now and buyers — analysis member ₩19,800/mo
Cars, cosmetics and pharmaceuticals ahead of SECA
🔒 Why-now and buyers — analysis member ₩19,800/mo
Free members get a human-reviewed summary by email for up to 3 countries a month (sent within 24h). BUILD members get them all.
Korean support schemes
- KOTRA Quito office · KOTRA — Market research and buyer matching; published a construction-machinery parts report in Aug 2026
- Korea-Ecuador Strategic Economic Cooperation Agreement (SECA) · Ministry of Trade, Industry and Resources — Signed 2 Sep 2025; Ecuador to remove tariffs on 92.8% of Korean goods; enters into force after ratification
- SME Export Voucher · KOSME — Covers certification, marketing and translation costs (available for all countries)
Official notices
Ministry of Economic and Productive Development of Ecuador
- 2026-11-05 Announced $458m in credit for basic services and sustainable production
- 2026-10-30 Said the 2027 budget gives priority to public works and social investment
- 2026-10-14 Raised annual transfers to local governments to $3.857bn
- 2026-08-13 Announced S&P's upgrade of the sovereign rating from B- to B (stable)
Disaster · conflict · epidemic
Watch 2026-11-07
Flooding (GDACS, 3 Nov) (single source)
Organised-crime violence continues
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Agencies
Earth & space
Credit rating · FX
S&P B (stable, Aug 2026) / Moody's Caa1 (upgraded Jan 2026) / Fitch B- (upgraded Nov 2025) · K-SURE Not confirmed · USD
Sanctions
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No country-level UN, US, EU, UK or Korean sanctions programme applies.
