02235cas a2200241 a 4500 AALejournalIMF019156 230101c9999 xx r poo 0 0eng d 5.00 USD 9781498303811 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Western Hemisphere Dept. Ecuador : 2016 Article IV Consultation-Press Release and Staff Report. Washington, D.C. : International Monetary Fund, 2019. 1 online resource (83 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This Article IV Consultation discusses that declining oil prices, US dollar appreciation, and limited access to international financing have worsened the fiscal, economic, and financial outlook. The focus of discussions was that despite the weak prospects there are still downside risks in the event that oil prices fall again, external financing becomes even more constrained, or confidence in the economy and the banking system begins to weaken. In the financial system, the main concern resides in a short-term risk of liquidity shortfalls, but credit quality concerns dominate over the medium term. The authorities' policy response to the imbalances has been timely but still insufficient given the size of the shocks, the urgent nature of the vulnerabilities, and reduced foreign currency reserves. Real GDP is expected to contract significantly this year and next. In order to prevent liquidity risks in the financial system, the authorities should limit recourse to domestic financing and, as necessary, assist in a timely way banks that develop liquidity or capital shortfalls, as well as enhance crisis preparedness and contingency planning. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2019/081 Full text available on IMF http://elibrary.imf.org/view/journals/002/2019/081/002.2019.issue-081-en.xml IMF e-Library