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

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

Volume/Issue: Volume 2020 Issue 325

Publication date: December 2020

ISBN: 9781513565743

$18.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , upside risk , EFF arrangement , procurement procedure , dollarization regime , IMF management team , Oil , Oil prices , Credit , Fiscal stance , Global

Also of interest

Peru

Grenada

Nepal

Peru

Summary

On September 30, 2020, the IMF Executive Board approved a 27-month arrangement under the Extended Fund Facility (EFF) with exceptional access (SDR 4,615 million, 661 percent of quota, about $6.5 billion) to help Ecuador restore macroeconomic stability and pursue the unfinished structural agenda from the previous program. High frequency indicators point to improvements in economic activity after bottoming out in Q2, while oil prices have been declining relative to earlier assumptions, leaving the macroeconomic outlook broadly unchanged over the medium term.