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

Author/Editor:

International Monetary Fund. Western Hemisphere Dept.

Publication Date:

March 20, 2019

Electronic Access:

Free Full Text. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

The authorities face a difficult situation. Wage increases have outpaced productivity growth over the past decade which, has led to a deterioration in competitiveness. This has been exacerbated by a strong U.S. dollar—Ecuador’s economy is fully dollarized—leaving the real exchange rate overvalued. Public debt is high and rising, the government faces sizable gross financing needs, and international reserves are precariously low. The recent volatility in oil prices and tighter global financial conditions have exacerbated these strains.

Series:

Country Report No. 19/79

Subject:

English

Publication Date:

March 20, 2019

ISBN/ISSN:

9781498303583/1934-7685

Stock No:

1ECUEA2019001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

115

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