Thanks to the boom in oil prices between 2004 and 2014, Ecuador experienced a period of growth and poverty reduction. Nevertheless, the 2014 decline in oil prices revealed the country’s lack of macroeconomic cushions and limited private investment.
It is necessary to maintain and create new job opportunities to reduce poverty and make families more resilient to external and natural disaster shocks. Additionally, safeguarding social protection mechanisms is indispensable for the most vulnerable sectors (World Bank, 2020).
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