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Economy & Business - January 2025

ECUADOR: IMF praise, but deep problems persist

The International Monetary Fund (IMF) announced on 19 December that its executive board had completed its first review of Ecuador’s economic reform programme, as part of the conditions of the four-year, US$4bn Extended Fund Facility (EFF) approved in May 2024. The report concluded that the country had made significant progress in implementing its economic reform programme, having met all the quantitative performance criteria and targets for the first review, as well as moving forward with structural reforms. The report praised the “strong and decisive” policy efforts of President Daniel Noboa’s government and their impact on improving macroeconomic stability. As a result of the favourable review, Ecuador gained immediate access to a further US$500m, bringing the total disbursed thus far to US$1.5bn.

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