Ecuador: Into the abyss thanks to the structural adjustment policies of the Extended Fund Agreement with the IMF
Ecuador: al abismo gracias a las políticas de ajuste estructural del Acuerdo de Servicio Ampliado con el FMI.
Equador: ao abismo graças às políticas de ajuste estrutural do Acordo de Serviço Ampliado com o FMI.
DOI:
https://doi.org/10.15446/cuad.econ.v39n80.82581Palabras clave:
Ecuador, fully dollarized economy, extended fund agreement, structural adjustment policies, capital roundtripping (en)Ecuador, economía completamente dolarizada, Acuerdo de Servicio Ampliado, políticas de ajuste estructural, capital de ida y vuelta (es)
Equador, economia completamente dolarizada, Acordo de Serviço Ampliado, políticas de ajuste estrutural, capital de ida e volta (pt)
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This paper analyses the scope, origins, justification, and commitments of the extended fund arrangement (EFA) signed by the Ecuadorian government and the IMF in March 2019. This agreement, which represents a little more than a third of Argentina’ Stand-By Agreement, promotes Central Bank independence, austerity, as well as structural adjustment policies, but its basic’ diagnosis omits external sector problems. This paper presents the implications and contradictions of the agreement to promote structural changes in the real sector and how these foster policies that protect the interests of bondholders and bankers.
Este artículo analiza el alcance, los orígenes, la justificación y los compromisos del Acuerdo de Servicio Ampliado firmado por el gobierno ecuatoriano y el FMI en marzo de 2019. Este acuerdo que representa un poco más de la tercera parte del Acuerdo Stand-By argentino, promueve la independencia del Banco Central, la austeridad fiscal así como políticas de ajuste estructural con un diagnóstico de partida que omite problemas en el sector externo. Se muestran las implicaciones y contradicciones del acuerdo para promover cambios estructurales en el sector real así como las políticas que protegen intereses de los tenedores de bonos y los banqueros.
Este artigo analisa o alcance, as origens, a justificação e os compromissos do Acordo de Serviço Ampliado firmado pelo Governo equatoriano e o FMI em março de 2019. Este acordo que representa um pouco mais do que a terça parte do Acordo Stand-By argentino, promove a independência do Banco Central, a austeridade fiscal assim como políticas de ajuste estrutural com um diagnóstico de partida que omite problemas no setor externo. Mostram-se as implicações e contradições do acordo para promover mudanças estruturais no setor real assim como as políticas que protegem interesses dos detentores de bônus e dos banqueiros.
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