East Friday, March 4, a mission from the International Monetary Fund (IMF) will begin the fourth review of the Extended Service program (SAF), which it has maintained with Ecuador since September 2020.
The Minister of Economy and Finance, Simón Cueva, expressed his optimism for the results of this review, “since the country has acted in a responsible, transparent and serious manner in its economic management.” He stressed that a good relationship is maintained with the IMF, based on a permanent dialogue.
The program that Ecuador maintains with The IMF contemplates a total financing of $6.5 billion, of which $4.8 billion has already been received and, throughout 2022, the remaining $1.7 billion will be accessed.
The support of the IMF has also allowed the country to access financing in beneficial conditions from other multilateral and bilateral organizations, such as the World Bank, Inter-American Development Bank, Development Bank of Latin America, European Investment Bank, Cooperation Agency Japan International (JICA) and French Development Agency. These resources have guaranteed the attention of the social protection programs to the vulnerable population and the economic reactivation of the country.
The minister reiterated that the government’s economic plan of President Guillermo Lasso has a long-term perspective and seeks to correct structural problems in the economy, so that the country achieves sustained and responsible economic growth with the environment, generates quality employment for more citizens and allows public finances to be channeled on a path of stabilization with equity, through honest and transparent management of public resources. (I)
Source: Eluniverso
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