Wealth creation, and the trade of goods and services are an inherent and inseparable aspect of

everyday. That is economy. Retailing shops and transnational corporations are the shadow of
something bigger. That’s Macroeconomics. The system of policies and regulations that carry out
development in every country.

The macroeconomic aspects provide guidelines for development in each country. It is about
Trade, debt, fiscal policy, growth, macroeconomic policy. Univocal decisions are needed in each
country depending on their cultural, social and economic identity in general. The biggest financial
entities such as "International Monetary Fund", World Bank, provide technical knowledge and
"Letters of intent" to countries in need of financial aid. Several of these letters have been subject
to controversy. One of them is the IMF’s letter of intent for Ecuador in 2019, which compels the
government to a series of commitments.

Various commitments may seem innocent, such as strengthening the financial system, supporting
job creation and competitiveness, set the debt threshold by gross domestic product from 40% to
30% until 2021. Others commitments are not easy to deal with, such as Reduction of public
employees, subsidies removal, monetize state assets (this means privatization). Some reforms to
the contracting law, will provide less security for employees.

Should we accept these technical reforms? , to what extent can the “good indices” of
macroeconomy be interpreted as "Sumak Kawsay – Buen vivir" the constitutional fundamentals of
our country? As citizens, we must be vigilant to exercise our democracy based on the ideas that
lead us not to the development of indices, but of social welfare.