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IMF staff concludes second review of Ecuador program

September 23, 2019 GMT

WASHINGTON (AP) — An International Monetary Fund mission and Ecuadorian authorities have reached an agreement on findings of the second review of a $4.2 billion IMF-supported program.

If the IMF executive board approves the review in the coming weeks, Ecuador would have access to $250 million, bringing the total amount received from the IMF since March to $800 million.

An IMF mission led by Anna Ivanova visited Ecuador last month to conduct the second review.

Ivanova said in a news release that progress has been achieved “in improving the country’s fiscal position and strengthening its international reserves as the authorities met all quantitative targets established under the program.”