Ecuador: Staff Report for the 2019 Article IV Consultation and Request for an Extended Arrangement Under the Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for Ecuador

March 20, 2019

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Format: Chicago

Ecuador: Staff Report for the 2019 Article IV Consultation and Request for an Extended Arrangement Under the Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for Ecuador, (USA: International Monetary Fund, 2019) accessed November 21, 2024

Summary

This paper discusses Ecuador’s 2019 Article IV Consultation and Request for an Extended Arrangement under the Extended Fund Facility. The Article IV discussions focused on diagnosing the nature of the imbalances facing Ecuador and the policy changes that will be needed to address them. There was broad agreement that fundamental supply-side efforts will be needed to foster competitiveness, create jobs, rebuild institutions, and make Ecuador a more attractive destination for private investment. Consistent with the findings of the Article IV, the authorities’ policy plan seeks to decisively address the systemic vulnerabilities facing Ecuador. The goals of these policies are to boost competitiveness and job creation, protect the poor and most vulnerable, fortify the institutional foundations for dollarization, and to improve transparency and good governance to public sector operations while strengthening the fight against corruption. The report suggests that improving the social safety net and increasing the effectiveness of public spending, particularly on health and education, will be essential to achieving strong, sustained, and socially equitable growth.

Subject: Banking, Commodities, Economic sectors, Fiscal policy, Fiscal stance, Oil, Oil prices, Prices, Public debt, Public sector

Keywords: Asset declaration regime, Authority, Building crisis-preparedness capability, CR, Deficit, Executive board discussion, Fiscal stance, Global, Government intervention, ISCR, Oil, Oil price decline, Oil prices, Public sector, Reducing balance of payments vulnerability

Publication Details

Pages:

115
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2019/079
Stock No:

1ECUEA2019001
ISBN:

9781498303583
ISSN:

1934-7685

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