Ecuador: 2021 Article IV Consultation, Second and Third Reviews Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Repor

2021 Article IV Consultation, Second and Third Reviews Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report
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Volume/Issue: Volume 2021 Issue 228
Publication date: October 2021
ISBN: 9781513599106
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Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , Business and Economics - Statistics , International - Economics , September employment survey data , revenue administration measure , staff appraisal , reform package , dollarization regime , Arrears , Oil prices , Oil , Global

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Summary

The new administration has committed to continue with the Fund-supported Extended Fund Facility (EFF) of SDR 4,615 million (661 percent of quota, about $6.5 billion) that was approved by the IMF Executive Board on September 30, 2020. The authorities’ objectives under the program are to ensure an environmental-friendly growth with high quality jobs, promote a transparent management of public resources, and ensure equity in the conduct of fiscally sustainable policies. Upon the completion of the Second and Third Reviews under the EFF, an additional SDR $568 million would be made available.

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