Ecuador: Ex-Post Evaluation of Exceptional Access under the 2020 Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for Ecuador

December 4, 2023

Preview Citation

Format: Chicago

Ecuador: Ex-Post Evaluation of Exceptional Access under the 2020 Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for Ecuador, (USA: International Monetary Fund, 2023) accessed November 21, 2024

Summary

The Executive Board approved a 27-month Extended Fund Facility (EFF) for Ecuador on September 30, 2020. The EFF supported program built on an earlier EFF arrangement in 2019, which had been canceled, and came on the heels of a Rapid Financing Instrument (RFI) purchase in 2020. With a total access of US$6.5 billion, the 2020 EFF brought Ecuador’s cumulative access to 897 percent of quota, triggering exceptional access (EA). After five purchases and with some of the reviews combined, the arrangement expired in December 2022.

Subject: Energy subsidies, Expenditure, Fiscal consolidation, Fiscal policy, International organization, Monetary policy, Oil prices, Prices, Public debt

Keywords: Dollarization regime, EFF approval, EFF arrangement, EFF program, Energy subsidies, Fiscal consolidation, Fund policy, Global, Oil prices

Publication Details

Pages:

81
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2023/381
Stock No:

1ECUEA2023002
ISBN:

9798400260223
ISSN:

1934-7685

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