IMF Staff Country Reports

Ecuador: First Review Under the Stand-By Arrangement and Requests for Modifications and Waiver of Nonobservance and Applicability of Performance Criteria

Publication Date:

August 8, 2003

Electronic Access:

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Summary:

Output growth, inflation, and the external current account balance are the major economic developments discussed in this study. The macroeconomic framework was modified to reflect recent information. The reforms in the banking system are helpful in completing the process of dealing with the failed banks. The authorities are contacting international financial experts to manage the debt reductions. Finally, the central government will need to be vigilant in implementing its challenging financing program. The program contains several prior actions to complete the first review.

Series:

Country Report No. 2003/248

Subject:

Arrears Banking Economic sectors External debt Financial institutions Oil, gas and mining taxes Public debt Public sector State-owned banks Taxes