Ecuador: Request for an Extended Arrangement Under the Extended Fund Facility-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Ecuador

October 5, 2020

Preview Citation

Format: Chicago

Ecuador: Request for an Extended Arrangement Under the Extended Fund Facility-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Ecuador, (USA: International Monetary Fund, 2020) accessed September 18, 2024

Summary

On May 1, 2020, the Executive Board approved an RFI (US$643 million, 67.3 percent of quota), to support the urgent needs of the Ecuadorean economy in the wake of COVID-19 crisis, and the authorities cancelled the three-year Extended Fund Facility arrangement (US$ 4.2 billion, 435 percent of quota). The macroeconomic situation has since deteriorated, prompting the authorities to request a 27-month EFF of SDR 4.615 billion (about US$6.5 billion, 661 percent of quota), to help restore macroeconomic stability, support the most vulnerable groups, and advance the structural reform agenda initiated under the previous EFF.

Subject: Banking, Credit, Debt service, External debt, Money, Oil prices, Prices, Public debt

Keywords: COPLAFIP regulation, CR, Credit, Debt service, Dollarization regime, Ecuador, EFF arrangement, EFF program, Global, High-frequency indicator, ISCR, Oil prices, Plan, Program profile

Publication Details

Pages:

129
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2020/286
Stock No:

1ECUEA2020002
ISBN:

9781513558608
ISSN:

1934-7685

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