“The new ECF/FEP agreements will help maintain macroeconomic stability, support the authorities` post-pandemic recovery policies and catalyze external funding by other donors. Building on the progress made under the previous programme, the new regime will also aim to advance ambitious institutional reforms to address widespread weaknesses in fiscal governance, financial sector supervision, market regulation, anti-corruption and the rule of law,” said Ruben Atoyan, who led the IMF staff team. “This is our program for which we seek the support of the Fund and multilateral institutions and our bilateral partners. We accept full responsibility for what we need to do. We must do this for our own survival as a country,” he stressed. IMF staff and The Ecuadorian authorities have reached a staff-level agreement to support Ecuador`s economic policy with a 27-month agreement under the Fund`s Extended Facility (EFF) of approximately $6.5 billion. “The agreement is subject to approval by the Fund`s management and the IMF`s Executive Board. Washington, DC – An International Monetary Fund staff team, led by Ivanna Vladkova Hollar, made long distance phone calls with the Ukrainian authorities on 21 May and concluded an economic policy agreement for a new 18-month pending arrangement (SBA). “This growth strategy is fuelled by fiscal and monetary reforms aimed at creating a stable, predictable and resilient macroeconomic environment, and focuses on reducing public debt ratios to a sustainable level. The strategy is also underpinned by critical structural reforms aimed at strengthening Jamaica`s external competitiveness and productivity, and it also aims to achieve private and public strategic investment and social stability,” he said. “The IMF team and the Egyptian authorities have reached a staff-level agreement on the first revision of Egypt`s economic programme, supported by the IMF`s $5.2 billion preparation agreement (press release). The agreement is subject to IMF Board approval in the coming weeks. After authorization, an additional SDR 1.16 billion (approximately $1.6 billion) will be made available to Egypt.
