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

International Monetary Fund

No 2024/146, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper highlights Ecuador’s Request for an Extended Arrangement under the Extended Fund Facility (EFF). The authorities implemented swift and bold measures in early 2024 to address the fiscal and liquidity challenges and requested a 48-month EFF arrangement of SDR 3 billion to support their policy plans and advance an ambitious structural reform agenda. IMF estimates that IMF resources are needed to close a financing gap of about US$4 billion during the program period, after factoring in an ambitious and large fiscal plan, financial support from international financial institutions and official bilateral partners, and renewed access to international capital markets. The baseline scenario under the program is, however, subject to substantive risks, stemming from both external and domestic factors. IMF assesses that the policy program provides a reasonably strong prospect of success, amid broad support to the main objectives of the EFF arrangement, and strong commitment and capacity by the authorities to take measures to ensure its successful implementation.

Keywords: EFF arrangement; financing strategy; reform agenda; reform sequencing; peak fund exposure; Anti-money laundering and combating the financing of terrorism (AML/CFT); Caribbean; Global (search for similar items in EconPapers)
Pages: 122
Date: 2024-05-31
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=549701 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2024/146

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().