## 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_

## Source details

**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](https://www.imf.org/en/publications/cr/issues/2020/12/23/ecuador-first-review-under-the-extended-arrangement-under-the-extended-fund-facility-and-49980)

## Other formats

- [Markdown version](/en/publications/cr/issues/2020/12/23/ecuador-first-review-under-the-extended-arrangement-under-the-extended-fund-facility-and-49980/index.md)
- [Structured JSON version](/en/publications/cr/issues/2020/12/23/ecuador-first-review-under-the-extended-arrangement-under-the-extended-fund-facility-and-49980/index.json)
- [Bundle manifest](/en/publications/cr/issues/2020/12/23/ecuador-first-review-under-the-extended-arrangement-under-the-extended-fund-facility-and-49980/bundle-manifest.json)

## Bibliographic details
- Published: December 23, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513565743.002

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### 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.*

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## Content in this bundle

- **Ecuador — IMF Staff Report**
  - [Ecuador — IMF Staff Report (Markdown version)](/-/media/files/publications/cr/2020/english/1ecuea2020003.pdf.md){rel="alternate" type="text/markdown"}
  - [Ecuador — IMF Staff Report (PDF)](/-/media/files/publications/cr/2020/english/1ecuea2020003.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2020/12/23/ecuador-first-review-under-the-extended-arrangement-under-the-extended-fund-facility-and-49980_