Bloomberg Línea Announces Expansion into Ecuador

Quito (Press Release). — Less than four months since its launch, Bloomberg Línea has expanded its footprint in Latin America with the start of its coverage in Ecuador, where it will produce content on finance, business and the economy to capture the increasing demand for information among its audience.

With this move, the South American country becomes Bloomberg Línea’s tenth market, and which now has 10 dedicated sites in Latin America: Argentina, Brazil, Colombia, Chile, Ecuador, Mexico, Panama, Peru, Venezuela and one pan-regional site. The financial and business news site, a property of Falic Media in an alliance with Bloomberg Media, also has correspondents in the US and Spain.

The dedicated coverage in this new market will be available at: www.bloomberglinea.com/latinoamerica/ecuador

“In the more than three months since our launch we now have more than three million visitors, which consolidates us as the brand with the strongest growth in the business, financial and economy news sphere in the region,” Leon Falic, CEO of Falic Media, said.

“The launch of our portal in Ecuador strengthens the mission of Bloomberg Línea to offer a service to audiences across the continent,” Kaio Philipe, the company’s COO, said.

Journalist Ángela Meléndez will be the editor of Bloomberg Línea Ecuador. Meléndez was editor-in-chief of Gestión Magazine and worked in Quito for EFE, the news agency. The coverage of that country of 17.5 million inhabitants and GDP of almost $98 billion will be significant, given that the country’s economy, like all of those in the region, is seeking to recover from the impact of the Covid-19 pandemic..

For the moment, the administration of Ecuadorian President Guillermo Lasso has harnessed some success in economic terms, such as renegotiating credit with the IMF (for up to $3.6 billion) and procuring a credit line for $400 million from the Inter-American Development Bank. In total, the agreements with the IMF (and other institutions such as the World Bank) provide Ecuador with the possibility of accessing $6.1 billion.

At the end of November, the Central Bank of Ecuador revised its GDP forecast for 2021, which it estimates will grow by 3.55%, after having declined by 7.75% in 2020. According to the bank, “the growth is due to the success of the vaccination plan, the increase in credit by the national financial system ($4.92 billion from January to October 2021), the recovery of oil exports, the positive performance of non-oil exports, and the increase in the flow of remittances. These factors will boost final consumption by households, and investment”.

Bloomberg Linea plans to launch more dedicated sites for Guatemala, Costa Rica, Honduras, Dominican Republic, Uruguay and the Caribbean in the coming months.