Daniela Chacón Arias, executive director at Fundación TANDEM and former Quito vice mayor and city council member: “Ecuador is currently facing an unsustainable fiscal situation marked by substantial and recurring deficits, with escalating public expenditures primarily financed through debt. The oil revenues’ unpredictability and the challenges in collecting taxes worsened by the forgiveness of major debtors and insufficient actions against tax evasion, continue to burden the financial situation. As a dollarized economy, Ecuador must consistently and reliably attract dollars to sustain its economic stability. Several factors impede Ecuador’s ability to attract foreign investment, with the legal and tax framework being a significant barrier. The country has yet to establish a…”
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