Ecuador: First Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Quantitative Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Ecuador
IMF Staff Country Reports, December 23, 2020
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- Canonical URL
- Ecuador: First Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Quantitative Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Ecuador
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Bibliographic details
- Published: December 23, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513565743.002
Program approval and financing
- On September 30, 2020, the IMF Executive Board approved a 27-month arrangement under the Extended Fund Facility (EFF) with exceptional access.
- Financing amounts and terms:
- SDR 4,615 million
- 661 percent of quota
- about $6.5 billion
Macroeconomic conditions and outlook
- Near-term developments:
- High frequency indicators point to improvements in economic activity after bottoming out in Q2.
- Oil prices have been declining relative to earlier assumptions.
- Outlook:
- The macroeconomic outlook is described as broadly unchanged over the medium term.
Purpose and policy focus
- Objectives of the EFF arrangement:
- Help Ecuador restore macroeconomic stability.
- Pursue the unfinished structural agenda from the previous program.
Key factual points and indicators
- Program duration: 27-month arrangement.
- Approval date: September 30, 2020.
- Exceptional access: SDR 4,615 million; 661 percent of quota; about $6.5 billion.
- Recent economic turning point: activity bottomed out in Q2.
- Price development: oil prices declining relative to earlier assumptions.
- Report length: 103 pages.
- Series and identifiers:
- Issue: 325
- Country Report No.: 2020/325
- DOI: https://doi.org/10.5089/9781513565743.002
- ISBN: 9781513565743
- ISSN: 1934-7685
International Monetary Fund. Ecuador: First Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Quantitative Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Ecuador, December 23, 2020.
Content in this bundle
- Ecuador — IMF Staff Report