## 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

_IMF Staff Country Reports, October 5, 2020_

## Source details

**Canonical URL:** [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](https://www.imf.org/en/publications/cr/issues/2020/10/02/ecuador-request-for-an-extended-arrangement-under-the-extended-fund-facility-press-release-49803)

## Other formats

- [Markdown version](/en/publications/cr/issues/2020/10/02/ecuador-request-for-an-extended-arrangement-under-the-extended-fund-facility-press-release-49803/index.md)
- [Structured JSON version](/en/publications/cr/issues/2020/10/02/ecuador-request-for-an-extended-arrangement-under-the-extended-fund-facility-press-release-49803/index.json)
- [Bundle manifest](/en/publications/cr/issues/2020/10/02/ecuador-request-for-an-extended-arrangement-under-the-extended-fund-facility-press-release-49803/bundle-manifest.json)

## Bibliographic details
- Published: October 5, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513558608.002

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

### Key figures and publication metadata
- RFI approved: US$643 million, 67.3 percent of quota (May 1, 2020).
- Cancelled previous EFF arrangement: US$ 4.2 billion, 435 percent of quota.
- New EFF request: SDR 4.615 billion (about US$6.5 billion, 661 percent of quota), duration 27 months.
- Publication date: October 5, 2020.
- Pages: 129.
- Volume: 2020.
- Issue: 286.
- Series: Country Report No. 2020/286.
- DOI: https://doi.org/10.5089/9781513558608.002
- ISBN: 9781513558608
- ISSN: 1934-7685

### Thematic focus and policy objectives
- Restore macroeconomic stability:
  - Use of a 27-month EFF to address fiscal and balance-of-payments needs following COVID-19 related deterioration.
- Protect vulnerable populations:
  - Support measures aimed at the most vulnerable groups during the crisis period.
- Advance structural reforms:
  - Continue and advance the structural reform agenda initiated under the previous EFF arrangement.

*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*

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## Content in this bundle

- **Executive Summary**
  - [Executive Summary (Markdown version)](/-/media/files/publications/cr/2020/english/1ecuea2020002.pdf.md){rel="alternate" type="text/markdown"}
  - [Executive Summary (PDF)](/-/media/files/publications/cr/2020/english/1ecuea2020002.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2020/10/02/ecuador-request-for-an-extended-arrangement-under-the-extended-fund-facility-press-release-49803_