Ecuadorean President Guillermo Lasso celebrated on Twitter the announcement and alleged this is due to the “responsible management of finances” of his government, although citizens and experts expressed their opposition.

Ecuador´s debt with IMF now amounts to over US$7,8 billion. This is the second time an Ecuadorean government completes an entire program with IMF. The first time was in 2001.

Although this was a success for the Ecuador government, economists pointed out how loans have not contributed so far to generate jobs, nor Lasso´s reactivation is being perceived.

Verónica Artola, former Director of the Central Bank, told Expreso newspaper this week the Government was not able to generate adequate policies. Ecuador has resources, a considerable international reserve, surplus fiscal results, but even so this is not reflected in the economy, she stated.

Ecuador´s Economy and Finance Minister Pablo Arosemena, on the other hand, stressed his interest in requesting a new IMF loan next year.

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