LatinNews Daily - 30 October 2025

*The International Monetary Fund (IMF) has concluded the third review of its 48-month Extended Fund Facility (EFF) arrangement for Ecuador, authorising the immediate disbursement of around US$600m. The EFF was originally approved in May 2024 for US$4bn, but was increased to US$5bn in July this year. Total disbursements under the programme now stand at US$2.7bn. In a statement, the IMF praised President Daniel Noboa’s government for “implementing high-quality revenue and expenditure reforms alongside targeted compensatory measures to protect vulnerable groups”. The IMF predicted “significant growth dividends over the medium term” as a result of Noboa’s “structural reform agenda to safeguard financial stability, enhance governance, and boost private investment and job-rich growth”. It added that “effective implementation of the authorities’ plan of fiscal consolidation and economic reforms, supported by the EFF arrangement, is projected to maintain public debt on a firm downward trend, supporting the authorities’ objective of further lowering sovereign spreads and regaining access to capital markets.” The IMF’s deputy managing director and acting chair, Nigel Clarke, said that “all quantitative targets for the third EFF review have been met – many with significant margins – and the implementation of structural reforms is progressing well. Real GDP is recovering much faster than projected, driven by strong domestic demand and record nonoil exports, while inflation remains low.”

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