Government-by-Government Assessments: Ecuador
During the review period, the government made significant progress by making information on debt obligations, including state-owned enterprise debt, publicly available within a reasonable period. Budget documents were publicly available online, although they excluded complete information on financial allocations to and earnings from state-owned enterprises. Budget documents were substantially complete and generally reliable. The supreme audit institution met international standards of independence, audited the government’s annual financial statements, and made its reports publicly available within a reasonable period. The government specified in law or regulation but did not always appear to follow in practice the criteria and procedures for awarding natural resource extraction contracts and licenses. Basic information on natural resource extraction license and contract awards was publicly available.
Ecuador’s fiscal transparency would be improved by:
* Including in public budget documents financial allocations to and earnings from state-owned enterprises; and
* Following in practice procedures for awarding natural resource extraction contracts.
Source: U.S. Department of State, Bureau of Economic and Business Affairs
