News Briefs

Ecuador and the IMF

News Brief No. 99/53
August 31, 1999
International Monetary Fund
700 19th Street, NW
Washington, D.C. 20431 USA

IMF Announces Conclusion of Staff Negotiations with Ecuador

Claudio Loser, Director of the Western Hemisphere Department of the International Monetary Fund (IMF), announced today that agreement has been reached between the Ecuadoran authorities and the IMF staff mission in Quito on an economic policy program that could be supported by the IMF with a stand-by arrangement through the end of 2000. The draft Memorandum of Economic Policies will be submitted shortly to the IMF Management for endorsement and, following the implementation of agreed actions in the fiscal and banking areas, and the receipt of adequate financing assurances, will be presented to the IMF Executive Board for approval.


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