Ecuador:Sixth Review under the Extended Arrangement under the Extended Fund Facility and Financing Assurances Review-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Ecuador

Ecuador: Sixth Review under the Extended Arrangement under the Extended Fund Facility and Financing Assurances Review-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Ecuador
READ MORE...
Volume/Issue: Volume 2022 Issue 378
Publication date: December 2022
ISBN: 9798400228827
$0.00
Add to Cart by clicking price of the language and format you'd like to purchase
Available Languages and Formats
pdf else
epub else
English
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.

Labor , Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , International - Economics , healthcare obligation , healthcare expenditure , audit result , EFF arrangement , IMF program Ecuador , Energy subsidies , Fiscal stance , Oil , Global , Western Hemisphere

Also of interest
Summary

Economic recovery is ongoing. Real GDP is expected to expand by 2.7 percent in 2022, slightly lower than expected in the last review due to the protests-related disruptions in June and slower growth in trading partners. Inflationary pressures have risen, driven by higher food and transport prices and non-tradeable services, with the headline inflation expected to reach 3.8 percent yoy at end-2022. Tighter financing conditions for all EMs, and an increasingly challenging domestic political environment sharply increased spreads and postponed international market access. The government remains committed to the Fund-supported program under the 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. Upon completion of the Sixth and final Review under the EFF-supported program—the first IMF program Ecuador will have completed in more than two decades— an additional SDR 497 million (about $700 million) would be made available.