South America · Andean · ECU
A dollarised Andean economy that removes currency risk entirely and replaces it with fiscal, security and energy-reliability questions.
Dollarisation is the single most important commercial fact about Ecuador: pricing, contracts and repatriation all run in US dollars, which materially simplifies treasury design compared with regional peers. What it does not remove is fiscal fragility, hydroelectric dependence that has produced rationing in dry years, and a deteriorating security environment concentrated in the coastal provinces. Clients typically enter for resources, agri-exports or a compact consumer market — and win or lose on continuity planning.
Security in coastal provinces, electricity reliability in drought years and fiscal-driven tax changes are the exposures that reach operations. Dollarisation removes FX risk but concentrates adjustment into fiscal and pricing policy. We test continuity, security and permitting exposure asset by asset in a commissioned assessment.
We publish dimension-level ratings only where our analysts have completed an assessment. Unrated dimensions are issued as part of a commissioned country assessment.
Large-scale mining
A copper and gold pipeline that remains materially underdeveloped relative to geology.
Aquaculture and agri-exports
Established shrimp and banana platforms with preferential access to EU and Asian buyers.
Energy resilience
Generation, storage and grid projects responding to structural hydro dependence.
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Last updated 2026-07-27. Compiled from official and institutional sources, including:
