The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
This paper describes economic developments in Ecuador during the 1990s. Inflation fell from an average of about 50 percent in 1988-92 to 22 percent in April 1995. Economic activity rebounded, and international reserves were rebuilt. Relations with foreign creditors were normalized through an 'exit' Paris Club rescheduling in mid-1994 and the completion of a debt- and debt-service-reduction operation with external commercial creditors in early 1995 that was expected to facilitate the return to external viability.