Ecuador: First Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Quantitative Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Ecuador

December 23, 2020

Preview Citation

Format: Chicago

Ecuador: First Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Quantitative Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Ecuador, (USA: International Monetary Fund, 2020) accessed November 13, 2024

Summary

On September 30, 2020, the IMF Executive Board approved a 27-month arrangement under the Extended Fund Facility (EFF) with exceptional access (SDR 4,615 million, 661 percent of quota, about $6.5 billion) to help Ecuador restore macroeconomic stability and pursue the unfinished structural agenda from the previous program. High frequency indicators point to improvements in economic activity after bottoming out in Q2, while oil prices have been declining relative to earlier assumptions, leaving the macroeconomic outlook broadly unchanged over the medium term.

Subject: Commodities, Credit, Fiscal policy, Fiscal stance, Money, Oil, Oil prices, Prices, Public debt

Keywords: CR, Credit, Dollarization regime, EFF arrangement, Fiscal stance, Global, IMF management team, ISCR, Oil, Oil prices, Procurement procedure, Upside risk

Publication Details

Pages:

103
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2020/325
Stock No:

1ECUEA2020003
ISBN:

9781513565743
ISSN:

1934-7685

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