The executive board of the International Monetary Fund will approve a report from the technical team and decide whether to deliver USD 348 million more to Ecuador.
IMF staff completed this Wednesday, February 26, the review of the economic goals for the last quarter of 2019.
The technical team, led by Anna Ivanova, was in Quito from February 11 to 20, 2020, to evaluate the economic development of the country and continue working, from Washington, with the Ecuadorian authorities while the economic policy plans are being implemented.
As in the previous three reviews, the IMF delegation met with the Government and private sector team.
The group of technicians must submit the report of the quarterly goals in fiscal, monetary, social matters, among others, to the executive board of the Fund and if the board approves, the Government will receive, in March, a new disbursement of USD 348 million.
Finance Minister Richard Martínez said that on February 17, despite not having met one of the goals in reference to the expected amount of international reserves, he is optimistic that the country will continue with the economic aid program .
“The agreement is not static and is being refreshed or updated in the different situations that the country is experiencing. We are optimistic that we will continue with the program, projects to reform the Monetary Code and Public Finance are under way, ”he added.
He said that last November, the Fund relaxed the goals of the program, including that of international reserves planned at the end of last December.
Initially, the amount of international reserves for 2019 to be fulfilled was USD 4 679 million, but the entity reduced the figure to USD 4 215 million. However, in December the final amount was USD 3 397 million.
Source: El Comercio, social networks
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