IMF Staff Country Reports

The Ecuadorian authorities made significant progress in the implementation of their economic program, supported by the 48-month Extended Fund Facility (EFF) arrangement approved by the Executive Board in May 2024 of SDR 3 billion (430 percent of quota, about US$4 billion). The new global landscape presents additional challenges for Ecuador due to volatile oil prices and tighter global financing conditions. Amid a more challenging external environment, the authorities have requested an augmentation of the original arrangement from US$4 billion to US$5 billion. The authorities have affirmed their commitment to implement an ambitious reform agenda to address the external shocks and further strengthen fiscal sustainability and buffers and boost private investment and job-rich growth. The authorities’ revised program will also catalyze additional financial support from multilateral partners which will help advance their ambitious structural reform agenda.