Ecuador: Agreements and Reforms to Reactivate the Economy

In the first hundred days of Guillermo Lasso’s presidency, the international community has seen a radical change in Ecuador’s economic policies. Some of the most notable achievements of the new administration are described below.

On Sept. 8, 2021, International Monetary Fund (IMF) staff and the Ecuadorian authorities reached a staff-level agreement on economic policies to conclude the combined second and third reviews of the 27-month Extended Fund Facility (EFF) program. Upon completion of the reviews, Ecuador would have access to nearly $800 million in financing.

In line with its electoral campaign promises, the new government has fully vaccinated over 9 million Ecuadorians (over half of the population) in the first 100 days of the new administration.

President Lasso and his economic team have been scrambling to file legal and tax reforms and present the 2021 budget to the National Assembly. The reforms are aligned with the president’s goal of…

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