LatinNews Regional Monitor: Andean Group - 24 September 2019

* During an International Monetary Fund (IMF) team’s visit to Ecuador, a staff-level agreement has been reached on the second revision of Ecuador’s economic programme under the Extended Fund Facility (EFF), which supports a three-year economic arrangement to increase productivity and achieve prosperity within the country. An IMF statement highlights that the “programme will help Ecuador better prepare for increasing global economic risks”, and commended President Lenín Moreno’s government for meeting targets and successfully improving the country’s fiscal position. The second stage involves passing legislative structural reforms in the national assembly that will strengthen the county’s competitiveness and help sustain advances in credit growth and private investment. Ecuador’s Economy and Finance Minister, Richard Martínez, reiterated that “The immediate challenge within this pathway of economic recuperation is to implement the pending structural reforms.”

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