The announced personal agreement, still subject to the approval of the Administration and the Executive Board of the IMF, would provide support to the economic policies of the South American country for the next four years.

The International Monetary Fund (IMF) reported today Thursday that it reached a personal agreement with Ecuador on a program of economic policies and structural reforms, supported by a 48-month agreement within the framework of the Expanded Fund Facility (SAF).

The agreement is for an amount of Special Drawing Rights or SDR US$ 3,000 million (around US$ 4,000 million and 430% of the quota), as indicated by the organization through an official statement.

This agreement, which is subject to the approval of the Administration and the Executive Board of the IMF, would provide support for Ecuador's economic policies for the next four years.

“I am pleased to announce that IMF staff and Ecuadorian authorities have reached an agreement in support of Ecuador's economic policy plan. Amid a challenging macroeconomic landscape, our objective has been and continues to be to support the efforts of the authorities to improve the living standards of all Ecuadorians, with a focus on protecting the most vulnerable and promoting sustainable growth,” said Varapat. Chensavasdijai, head of the IMF mission in Ecuador, at the conclusion of talks with the authorities.