Ecuador: Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Ecuador

IMF Staff Country Reports, September 9, 2016

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Canonical URL: Ecuador: Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Ecuador

The Ecuadoran authorities are requesting financial assistance under the IMF’s Rapid Financing Instrument (RFI).
The request aims to address the urgent balance of payments (BOP) needs associated with emergency and reconstruction efforts.
Given the urgency of their request, the authorities are not currently in a position to implement a full-fledged upper-credit-tranche program.
The authorities believe they can make suitable adjustments to manage their medium-term BOP challenges.

Given the nature of the emergency, the IMF staff supports the authorities’ request for a purchase under the RFI.
The paper discusses Ecuador’s Request for Purchase Under the Rapid Financing Instrument (RFI) and the associated staff analysis.