Ecuador and IMF reach technical agreement

This is an automated translation of the original release published in Spanish.

Statement from the Ministry of Economy and Finance

The Ministry of Economy and Finance has reached a technical agreement with the International Monetary Fund (IMF), which will be submitted to the organization's Executive Board for approval.

Ecuador seeks to access an Expanded Fund Facility (SAF) agreement for 48 months, which represents financial support of around US$4bn.

The Minister of Economy and Finance, Juan Carlos Vega, highlighted that the economic plan of President Daniel Noboa's government is solid and is receiving the support of multilateral organizations.

He pointed out that, if approved by the IMF Board, Ecuador will have access to fresh resources that will help sustain citizen security, promote public works, guarantee social protection and direct the country on the path of inclusive economic growth that generates more opportunities. of employment for Ecuadorans.

The technical agreement was reached after several work meetings between the Ecuadorian authorities and the IMF staff, where Ecuador's objectives were presented, which are related to efficient and transparent management of public resources, the fight against crime and corruption, and the implementation of public policies that promote economic and social stability.