Articles
Business intelligence and analysis on Ecuador
Minutocorp Lists $4.5M Collective Investment Fund on BVG — Construye Patrimonio 01, Targeting 38% Three-Year Returns
Minutocorp launched its first $4.5 million collective investment fund, Construye Patrimonio 01, issued by associated entity Formaper S.A. The 10-year closed-end fund targets returns of up to 38% every three years and liquidates in 2036. The listing marked the Bolsa de Valores de Guayaquil's 107th bell ring.
Ecuador Finance Ministry Issues Directive for Debt Settlement Using Unproductive State Real Estate
Ecuador's Finance Ministry has published an operational directive allowing government debts to public and private creditors — including GADs and suppliers — to be settled using unproductive state real estate. The protocol requires signed dación de pago agreements, technical reports, and cadastral verification. Inmobiliar held 469 state properties as of December 2024.
DIAN Data Confirms Trade War Bite: Colombian Exports to Ecuador Fell 27% YTD, 57% Month-Over-Month
Colombia's DIAN reports Colombian exports to Ecuador fell 27% year-to-date through February and 57% between February and March as Ecuador's security tariff took effect. Electricity exports collapsed 77%. Ecuadorian exports to Colombia rose 32% to $187.7 million. The tariff escalates from 50% to 100% on May 1.
Fedexpor Projects USD 367 Million Export Upside From Ecuador–South Korea Trade Agreement Over Five Years
With Ecuador's National Assembly having approved the SECA (Strategic Economic Cooperation Agreement) with South Korea, Fedexpor is projecting a $367 million five-year upside in exports. 98.8% of Ecuador's exportable supply enters South Korea at zero tariff immediately upon ratification. Shrimp gets immediate access; bananas phase in; certain sensitive categories have up to 15-year adaptation windows. The deal now awaits presidential ratification.
Aerovía Suspends Operations as Guayaquil Power Outages Continue — Grid Strain Hits Concessioned Public Infrastructure
Guayaquil's Aerovía — the Guayaquil–Durán aerial tram operating as a public-private concession — suspended operations citing lack of electrical service as power outages persisted across multiple sectors of the city from the afternoon and night of April 14. Residents of Escobedo y Luque reported more than 15 hours without power. The government continues to describe the outages as scheduled maintenance or incidents, not a crisis.
SOTE Emergency Variant Reaches 70% Completion; OCP Pursues USD 135 Million Definitive Solution
Petroecuador's emergency variant on the Sistema de Oleoducto Transecuatoriano (SOTE), necessitated by aggressive erosion of the río Loco, has reached approximately 70% physical completion. The 1,983-meter emergency bypass is expected to enter operation in May. OCP is running procurement processes through Sercop for a definitive $135 million solution with a 47.8 km SOTE trace and 49.68 km for the parallel polyduct.
Ecuador Wins "Social Loan of the Year" at Environmental Finance Sustainable Debt Awards 2026 for $500M IDB Housing Loan
Environmental Finance awarded Ecuador the "Social Loan of the Year" prize at the Sustainable Debt Awards 2026 for a $500 million IDB-backed loan received in December 2025 to finance the state social housing program. The deal was structured with technical support from the Global Green Growth Institute, financed by Luxembourg. Minister Sariha Moya represents the recognition as a reputational win for Ecuador's sustainable-debt issuance pipeline.
Formaper Places $4.5M "Construye Patrimonio 01" Collective Investment Fund on Bolsa de Valores de Guayaquil
Formaper S.A., an affiliate of real estate and construction firm Minutocorp, listed its first collective investment fund — "Construye Patrimonio 01" — on the Bolsa de Valores de Guayaquil for $4.5 million, targeting returns of up to 38% every three years over a 10-year term. The BVG recorded the 107th bell-ringing of 2026 to mark the listing. The exchange reports 2025 trading volume of $182 million, a 40.41% increase over 2024.
Fuel Adjustment Transmits to Guayaquil Wholesale Produce Prices — Onion Sacks Up to $45–52, Avocado Cases Double
Vendors at Guayaquil's Mercado Central and the Terminal de Transferencia de Víveres in Montebello are reporting sharp price increases on staple produce items — onion sacks moving from $15 to $45 (with a recent peak of $52), avocado cases from $7 to $14–22, and strawberry cases from $4 to $12–15 — following the April 12 national fuel price adjustment. The ExpresoRcoverage also documents how diesel's 4.7% rise is passing through supply chains.
Banco Guayaquil Hosts "Banco Guayaquil Day" in New York to Attract Foreign Capital to Ecuadorian Projects
Banco Guayaquil is hosting "Banco Guayaquil Day" in New York on April 15, 2026, presented by its executive president Guillermo Lasso Alcívar. The event targets international investors and global financial market participants with the stated goal of linking Ecuador's investment potential to international capital through sustainable investment opportunities.
Sommerfeld 2025 Report: 7,400+ Tariff Lines to 0% Under US Deal, $343.9M Cooperation Secured
Foreign Minister Gabriela Sommerfeld presented Ecuador's 2025 foreign affairs accountability report, headlined by the US trade deal commitment that more than 7,400 tariff lines will drop to 0% immediately. The report documents $343.9M in non-reimbursable international cooperation, 107 bilateral instruments signed, and 97.98% ministerial budget execution.
Banco del Pacífico Leads Q1 2026 Private Bank Profitability — ROE 21.51%, ROA 2.36%
Banco del Pacífico posted Q1 2026 net income of $60.05 million and led Ecuador's private banking system in profitability ratios — ROE 21.51% and ROA 2.36% — both ranking first ahead of Banco Pichincha, Banco Guayaquil, and Produbanco. System-wide ROE stands at 13.42% on $53.3B in total credit and $62.6B in deposits.