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

IMF Staff Country Reports, March 20, 2019

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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

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Bibliographic details

• Published: March 20, 2019
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781498303583.002

Executive summary and objectives

• Article IV discussions diagnosed the nature of the imbalances facing Ecuador and the policy changes needed to address them.
• Authorities’ policy plan seeks to decisively address systemic vulnerabilities facing Ecuador.
• Goals of the policy plan:
  • boost competitiveness and job creation;
  • protect the poor and most vulnerable;
  • fortify the institutional foundations for dollarization;
  • improve transparency and good governance in public sector operations;
  • strengthen the fight against corruption.

Major findings and analysis

• Broad agreement that fundamental supply-side efforts will be needed to:
  • foster competitiveness;
  • create jobs;
  • rebuild institutions;
  • make Ecuador a more attractive destination for private investment.
• The report emphasizes that improving the social safety net and increasing the effectiveness of public spending—particularly on health and education—will be essential to achieving strong, sustained, and socially equitable growth.
• The Article IV focused on diagnosing systemic vulnerabilities and identifying policy changes to resolve them.

Policy recommendations and priorities

• Implement fundamental supply-side reforms to enhance competitiveness and private investment.
• Strengthen institutions to support dollarization and fiscal stability.
• Improve transparency and governance in public sector operations.
• Intensify anti-corruption measures.
• Enhance social safety nets and reallocate public spending to increase effectiveness, with priority sectors including health and education.

Subjects and keywords (as listed)

• Subjects: Banking, Commodities, Economic sectors, Fiscal policy, Fiscal stance, Oil, Oil prices, Prices, Public debt, Public sector
• Keywords: asset declaration regime, authority, building crisis-preparedness capability, CR, deficit, executive board discussion, Fiscal stance, Global, government intervention, ISCR, Oil, oil price decline, Oil prices, Public sector, reducing balance of payments vulnerability

Publication and document specifics

• Pages: 115
• Volume: 2019
• DOI: https://doi.org/10.5089/9781498303583.002
• Issue: 079
• Series: Country Report No. 2019/079
• Stock No: 1ECUEA2019001
• ISBN: 9781498303583
• ISSN: 1934-7685
• Publication date shown: March 20, 2019

International Monetary Fund. 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, March 20, 2019.

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