Ecuador: Request for an Extended Arrangement Under the Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for Ecuador

Following the completion of a 27-month Extended Fund Facility (EFF) arrangement in December 2022, political uncertainty, a security crisis, and exogenous shocks to oil revenue and interest rates led to a sharp macroeconomic and fiscal deterioration. The authorities implemented swift and bold measures in early 2024 to address the fiscal and liquidity challenges and requested a 48-month EFF arrangement of SDR 3 billion (about US$4 billion, 430 percent of quota) to support their policy plans and advance an ambitious structural reform agenda.