Ecuador: First Review under the Extended Fund Facility Arrangement, Requests for Waiver of Nonobservance of Performance Criterion, Modification of Performance Criteria, and Financing Assurances Review-Press Release and Staff Report
IMF Staff Country Reports, July 3, 2019
Source details
- Canonical URL
- Ecuador: First Review under the Extended Fund Facility Arrangement, Requests for Waiver of Nonobservance of Performance Criterion, Modification of Performance Criteria, and Financing Assurances Review-Press Release and Staff Report
Other formats
Bibliographic details
- Published: July 3, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498324304.002
Program overview
- A 36-month EFF with access of SDR 3.035 billion (435 percent of quota or about US$4.204 billion) was approved on March 11, 2019.
- Report date: July 3, 2019.
- Publication: IMF Staff Country Reports 2019, 210 (2019).
Macroeconomic outlook and projections
- Economic activity is projected to decelerate further in 2019 as fiscal consolidation and a slowdown in credit growth weigh on economic growth.
External financing and market signals
- External financing conditions have improved on the back of rising oil prices and the approval of the IMF program.
- Sovereign bond spreads fell by 250 basis points since January 1, 2019.
Subjects and keywords (as listed)
- Subjects: Central banks, Commodities, Expenditure, Fiscal policy, International organization, Monetary policy, Public debt.
- Keywords: dollarization regime, Ecuadorian government, Energy subsidies, Executive Board discussion, financing needs, Fiscal stance, Global, IMF's Executive Board, International reserves, Oil, structural agenda, trading partners inflation.
Content in this bundle
- 1ecuea2019004