Ecuador: Request for an Extended Arrangement Under the Extended Fund Facility-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Ecuador

International Monetary Fund

No 2020/286, IMF Staff Country Reports from International Monetary Fund

Abstract: On May 1, 2020, the Executive Board approved an RFI (US$643 million, 67.3 percent of quota), to support the urgent needs of the Ecuadorean economy in the wake of COVID-19 crisis, and the authorities cancelled the three-year Extended Fund Facility arrangement (US$ 4.2 billion, 435 percent of quota). The macroeconomic situation has since deteriorated, prompting the authorities to request a 27-month EFF of SDR 4.615 billion (about US$6.5 billion, 661 percent of quota), to help restore macroeconomic stability, support the most vulnerable groups, and advance the structural reform agenda initiated under the previous EFF.

Keywords: ISCR; CR; Ecuador; EFF arrangement; plan; COPLAFIP regulation; program profile; dollarization regime; EFF program; high-frequency indicator; Debt service; Oil prices; Credit; Global (search for similar items in EconPapers)
Pages: 129
Date: 2020-10-05
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