## IMF Reaches Staff-Level Agreement on the Second and Third Review of Ecuador’s Economic Program under the Extended Fund Facility

_IMF News, December 10, 2019_

## Source details

**Canonical URL:** [IMF Reaches Staff-Level Agreement on the Second and Third Review of Ecuador’s Economic Program under the Extended Fund Facility](https://www.imf.org/en/news/articles/2019/12/10/pr19449-ecuador-imf-reaches-staff-level-agreement-second-third-review-economic-program-eff)

## Other formats

- [Markdown version](/en/news/articles/2019/12/10/pr19449-ecuador-imf-reaches-staff-level-agreement-second-third-review-economic-program-eff/index.md)
- [Structured JSON version](/en/news/articles/2019/12/10/pr19449-ecuador-imf-reaches-staff-level-agreement-second-third-review-economic-program-eff/index.json)
- [Bundle manifest](/en/news/articles/2019/12/10/pr19449-ecuador-imf-reaches-staff-level-agreement-second-third-review-economic-program-eff/bundle-manifest.json)

## Bibliographic details
- Published: December 10, 2019

---

### Agreement and reviews
- IMF staff and the Ecuadorian authorities reached a staff level agreement on the combined second and third reviews of the economic program supported by a three-year Extended Fund Facility (EFF) arrangement.
- Discussions took place in Quito during August 12–26, 2019 and in Washington, D.C. during November 11–15, 2019.
- Statement issued by Ms. Anna Ivanova in Washington, D.C. on December 10, 2019.

### Financial access and timelines
- Subject to the approval of the Executive Board, Ecuador would have access to about US$498 million (SDR 361.3 million).
- The Executive Board’s review is expected to take place on December 19.

### Policy measures and assessments
- The IMF commends the authorities’ strong commitment to implement policies aimed at strengthening the Ecuadorian economy and laying the groundwork for robust and sustainable growth, while protecting the most vulnerable.
- The IMF welcomes the approval of the tax reform by the National Assembly, noting it will:
  - make the tax system more efficient, simple, and growth-friendly, and
  - improve Ecuador’s fiscal position.

### Social protection
- The authorities remain strongly committed to improving social protection for the vulnerable people.
- Progress has already been made in strengthening the social safety net and expanding the coverage of beneficiaries.

### Process and acknowledgements
- IMF staff thanked the authorities and the technical team for their candid and constructive discussions.

### Media contact
- PRESS OFFICER: Maria Candia
- Phone: +1 202 623-7100
- Email: MEDIA@IMF.org
- @IMFSpokesperson

*IMF Press Release No. 19/449 — December 10, 2019*

---


## References

- [Ecuador and the IMF](http://www.imf.org/external/country/ECU/index.htm)
- [Press Releases](https://www.imf.org/en/news/searchnews)
- [PRESS CENTER](http://presscenter.imf.org/)
- [https://www.imf.org/en/home](https://www.imf.org/en/home)

_Source: https://www.imf.org/en/news/articles/2019/12/10/pr19449-ecuador-imf-reaches-staff-level-agreement-second-third-review-economic-program-eff_