INSUBCONTINENT EXCLUSIVE:
strides in implementing economic policies and structural reforms
Ecuador is currently grappling with a historic drought, which has severely impacted its economy.The IMF staff reiterated their support for
This backing comes at a crucial time for the South American nation
(Photo Internet reproduction)The government aims to foster inclusive growth while protecting its most vulnerable citizens
This approach reflects a delicate balance between economic progress and social responsibility
The IMF mission began its visit to Ecuador on October 28th to discuss economic perspectives and policies.These discussions took place within
the framework of an Extended Fund Facility (EFF) agreement
This agreement, reached on May 31st, includes a $4 billion credit program
for Economic ReformsAnother $500 million disbursement is expected by the end of this year
However, this depends on the government meeting the targets set in the EFF program
These include strengthening the fiscal situation and ensuring social protection
The new projection stands at 0.3%, a slight improvement from the April forecast
due to an ongoing electricity crisis
The country is experiencing its worst drought in six decades
This situation has forced the government to implement massive power cuts since September 23rd.These challenges highlight the intricate
balance Ecuador must maintain
The country strives to meet IMF targets while addressing immediate domestic issues
This situation underscores the complexities of implementing economic reforms in challenging circumstances.
