IMF to disburse USD 500 millon to Ecuador
Posted on: Dec 20, 2024
The Executive Board of the International Monetary Fund (IMF) has approved a disbursement of approximately USD 500 million for Ecuador, following the successful completion of the first review of the country's agreeement with the organization.
The IMF Executive Board also concluded Ecuador's 2024 Article IV Consultation, which involved discussion on the economic measures implemented by national authorities under the leadership of President Noboa. These measures aim to strengthen fiscal performance, ensure the protection og social spendieng, and mantain macroeconomic stability. Download press release Read more Staff ReportNoboa Administration Achieves Historic Debt Conversion, Saving USD 800 Million by 2035 to Conserve the Amazon
Posted on: Dec 19, 2024
On the morning of Tuesday, January 17, from the Botanical Garden, President Daniel Noboa Azin announced a historic milestone: the first debt conversion dedicated to terrestrial and freshwater conservation in the Ecuadorian Amazon. This operation refinanced approximately USD 1.53 billion in global bonds through a USD 1 billion loan with improved terms, reducing debt service by more than USD 800 million by 2035. This initiative not only delivers financial benefits but also advances environmental objectives by channeling resources into the implementation of the Amazon Biocorridor Program (BCA) and its conservation initiatives, safeguarding one of the world’s most biodiverse and vital ecosystems.
Download (Espanish) Download (English)IMF Reaches Staff-Level Agreement on the First Review under Ecuador’s Extended Fund Facility Arrangement
Posted on: Dec 13, 2024
IMF staff and Ecuadorian authorities have reached a staff-level agreement on the first review of Ecuador's economic reform program, supported by the 48-month Extended Fund Facility (EFF). Subject to approval by the IMF Executive Board, Ecuador would have access to approximately US$500 million (SDR 375.9 million). Program performance has been strong, with all end-August 2024 quantitative performance criteria and indicative targets met for the first review. Significant progress has also been made in implementing the ambitious structural reform agenda supported by the program. The authorities' strong and decisive efforts have helped maintain macroeconomic stability, strengthen fiscal sustainability, and protect vulnerable population groups.
VisitEconomy and Finance Minister Call Conference for Investors Aug 2, 2024
Posted on: Aug 22, 2024
Presentation to investors on selected key macroeconomic indicators, state of public finances, selected government measures, financial and monetary overview
DownloadEcuador receives international award for the best debt swap for nature conservation 2023
Posted on: Oct 26, 2023
Ecuador has been awarded the 'Natural Resources Finance Deal of the Year' for its successful debt-for-nature swap that safeguards the Galápagos Islands' Hermandad Reserve. This international recognition was presented by GFC Media Group, the leading investment banking and corporate finance events company for emerging and frontier markets.
Learn moreSovereign Green Bond Framework of Ecuador
Posted on: Oct 4, 2023
The Republic of Ecuador is firmly committed to sustainable development, climate action, and environmental protection.
The Sovereign Green Bond Framework defines the eligible green categories’ description and criteria, which were developed based on the 2030 Agenda for Sustainable Development and its Sustainable Development Goals (SDGs), the Ecuadorian National Development Plan titled “Opportunity Creation Plan” 2021-2025, and the Ecuador’s Nationally Determined Contributions (NDCs) under the Paris Agreement.
The Framework, designed by following the ICMA´s Green Bond Principles, highlights four core components that the Government of Ecuador commits to adhere by for all green bond issuances:
- Use of proceeds
- Process for Project Evaluation and Selection
- Management of Proceeds
- Reporting
This document was prepared by the Ministry of Economy and Finance in coordination with other sectorial ministries and the support of the Development Bank of Latin America and the Caribbean (CAF), and the Global Green Growth Institute (GGGI).
SGB framework (english) SGB framework (español)Access to Debt-for-Conservation documents
Posted on: May 12, 2023
On May 11, 2023, the Government of Ecuador announced the completion of the largest debt-for-conservation swap in history, marking a significant milestone for both the nation and global environmental preservation efforts. As a result of this operation, the immediate reduction of the debt balance by approximately $1 billion and the allocation of approximately $450 million for the preservation and protection of Galapagos Archipelago, represent a significant achievement.
In line with our unwavering commitment to transparency and disclosure, we provide interested parties with access to relevant legal and contractual documents pertaining to this historic operation. We encourage our investors and stakeholders to visit the following links below to obtain the necessary information.
Debt Committee resolution BNY GPS BLUE ContractPresident Guillermo Lasso's Government expresses its heartfelt appreciation to all parties involved in this transformative effort, including our partners, international financial institutions, and the citizens of Ecuador. In line with our unwavering commitment to transparency and disclosure, we provide interested parties with access to relevant legal and contractual documents pertaining to this historic operation.
Government of Ecuador triggers the constitutional "Cross Death Clause" and calls for general elections
Posted on: May 17, 2023
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Government of Ecuador announces debt for nature swap operation to preserve Galapagos Islands' biodiversity
Posted on: May 11, 2023
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Official statement from the Presidency of Ecuador regarding the admissibility of political impeachment proceedings against President Guillermo Lasso
Posted on: Mar 30, 2023
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The Constitutional Court ruled in favor of the Executive, finding the bill presented by the Assembly to repeal the tax reform as formally unconstitutional
Posted on: Feb 2, 2023
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Ecuador has reached reprofiling agreements with China Development Bank and China Eximbank
Posted on 9 Dec 2022
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