"maiello" - 1 õppematerjal

CRITISIM ABOUT IMF AND WORLD BANK

6 percent. Co- op loans have also seen a large increase in the absolute total amount, tripling in real (inflation- adjusted) terms during this period." Conclusively, the authors explain, "Ecuador is a relatively small, middle income developing country with an open economy that does not even have its own currency, yet in five years it has accomplished some of the most comprehensive financial reforms of any country in the 21st century" (Maiello, 2013). Ecuador economic growth has been inclusive, which has directly reduced poverty and inequality levels and increased the middle class. Between 2006 and 2012, income poverty (using the national poverty line) fell from 37.6% to 27.3% whereas extreme poverty declined from 16.9% to 11.2%.Public investment has increased, from 21% of GDP in 2006 to nearly 42% in 2012 (Bank T. W.). Ecuador is a small but strong country that did fight with big difficulties and now is getting