Sat, 05 Dec 2020

QUITO, Oct. 27 (Xinhua) -- Ecuadorian President Lenin Moreno on Tuesday said the South American country has an improved economic outlook despite the tough fiscal situation caused by the COVID-19 pandemic.

"Thanks to good government management, today we have a better outlook," said the president during a military ceremony to commemorate the 100th anniversary of the Ecuadorian Air Force.

The pandemic led the government to "spend unforeseen millions" to attend to the emergency, despite lacking revenues and savings, he said.

Now, "fresh resources are coming in," said Moreno, referring to a recent loan agreement with the International Monetary Fund (IMF).

According to the IMF's latest World Economic Outlook, Ecuador's unemployment rate in 2020 will be 8.1 percent, the third lowest in South America, only after Paraguay and Bolivia with 7 percent and 8 percent respectively, said Moreno.

Expressing pride in the IMF prediction, Moreno said "this indicates that we are doing things well."

Moreno also highlighted the humanitarian work of the Air Force and its support during the health emergency caused by COVID-19, which as of Tuesday left 163,192 people infected in the country, according to the Ministry of Health.

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