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Ecuador’s agreement with IMF involves progressive tax reform

RIO DE JANEIRO, BRAZIL - The International Monetary Fund (IMF) Board of Directors approved the technical agreement reached with Ecuador early this month, to disburse US$2.5 billion between 2021 and 2022.

The multilateral organization authorized a disbursement of US$800 million of this amount, to be immediately allocated to finance the State Budget.

The agreement contains significant commitments by the government. The first is to achieve fiscal sustainability in the medium term.

Second, to reduce public debt, optimizing spending and guaranteeing the protection of the most vulnerable. These efforts should be complemented with a progressive tax reform.

The Fund . . .

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