Ecuador: Staff Report for the 2003 Article IV Consultation, Request for a Stand-By Arrangement, and Approval of an Exchange Restriction

International Monetary Fund

No 2003/090, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper assesses Ecuador’s 2003 Article IV Consultation, a Request for a Stand-By Arrangement (SBA), and Approval of an Exchange Restriction. The main objectives of the fiscal program are to address immediate liquidity constraints and to bring expenditure growth under control, consistent with the demands of dollarization. The government has moved quickly to implement a package of politically difficult revenue measures. Although recognizing the risks involved, the IMF staff supports Ecuador’s request for a new SBA in support of the government’s economic program.

Keywords: ISCR; CR; policy slippage; government; SDR; repurchase expectation; policy; executive board discussion; fiscal consolidation objective; expenditure growth; revenue buoyancy; Banco del Pacifico; Public sector; Oil prices; Oil; Global (search for similar items in EconPapers)
Pages: 98
Date: 2003-04-07
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Citations: View citations in EconPapers (5)

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