Ecuador adopted the U.S. dollar as its legal tender in January 2000, in a context of deep economic and political crisis. Almost two decades later in December 2019, the Executive Board of the International Monetary Fund (IMF) approved a total disbursement of US$498 million after the completion of the second and third reviews under the Extended Fund Facility Arrangement. The financial agreement with the IMF had been concluded in March 2019, under the presidency of Lenin Moreno, in order to address the country’s growing external financing needs. Within the framework of the macroeconomic program supported by the IMF, Ecuadorian authorities committed to ensure fiscal sustainability, re-build the international reserves of the Central Bank of Ecuador (BCE), and strengthen the institutional foundations of official dollarization.
-
on the same region
Research documentpublished in September 2021Institutional documentpublished in May 2021Vidéopublished in April 2021Institutional documentpublished in December 2019Research documentpublished in August 2016 -
on the same topic
Research documentpublished in June 2022Research documentpublished in June 2022Evaluation documentpublished in June 2022Institutional documentpublished in June 2022Institutional documentpublished in May 2022Research documentpublished in May 2022 -
from the same author
Research documentpublished in June 2022Research documentpublished in June 2022Research documentpublished in June 2022Research documentpublished in June 2022Research documentpublished in June 2022Research documentpublished in June 2022 -
from the same collection
Research documentpublished in June 2022Research documentpublished in June 2022Evaluation documentpublished in February 2022Research documentpublished in January 2022Research documentpublished in December 2021Research documentpublished in September 2021