Press Release No. 17/458

IMF Statement at the Conclusion of Staff Visit to Ecuador

November 29, 2017

• IMF team visited Quito to hear views of the new administration on the economic policies and priorities
• Economy is recovering briskly from the 2016 recession and activity has been stronger than anticipated

An IMF delegation comprised of the IMF’s Director of the Western Hemisphere Department, Mr. Alejandro Werner, and the Mission Chief for Ecuador, Ms. Anna Ivanova visited Quito to meet with the Ecuadorian authorities and hear the views of the new administration on the economic policies and priorities for the country. At the conclusion of the visit Mr. Werner issued the following statement:

“It was a pleasure to be in Ecuador and have the privilege to meet President Lenin Moreno. We also had very productive meetings with Finance Minister De La Torre and Central Bank General Manager Veronica Artola. The meetings were an opportunity to discuss the economic outlook for the country and the authorities' policy priorities for the period ahead.

“It is clear that the economy is recovering briskly from the 2016 recession and activity has been stronger than we had anticipated in our latest October projections. There was a common view of the important challenges that lie ahead for Ecuador including the need to restore external competitiveness and strengthen the fiscal position.

“I was encouraged by the depth of our dialogue with the Ecuadorian authorities and thank them for their warm hospitality. We look forward to continue our cooperation with Ecuador including through an upcoming Article IV consultation in early 2018 and through IMF support to develop capacity in a range of technical areas identified by the authorities.”