Publication: Ecuador Country Climate and Development Report
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2024-09-06
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2024-09-06
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Ecuador is a middle-income country with abundant agricultural, oil, mineral, and hydropower resources and a challenging fiscal situation. Ecuador is already facing severe consequences from climate-induced hazards like droughts, floods, and rising sea levels, and these impacts are projected to escalate due to climate change. Ecuador’s development, heavily reliant on the state and fueled by oil exports, is fiscally dependent on this commodity, and the global shift toward decarbonization can significantly reduce the demand for Ecuador’s oil and agricultural commodities. Climate mitigation and adaptation actions combined with critical institutional and structural reforms will unlock Ecuador’s productivity and strengthen resilience to shocks, putting the country on a path of higher, more stable growth. Successfully addressing climate challenges can be achieved by combining institutional, macro fiscal, and sectoral policies that integrate climate and development priorities and exploit their complementarities under a whole-of-the-economy approach.
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“World Bank Group. 2024. Ecuador Country Climate and Development Report. CCDR Series. © World Bank. http://hdl.handle.net/10986/42126 License: CC BY-NC-ND 3.0 IGO.”
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