IMF comes to the rescue but demands fuel subsidy cuts.

The International Monetary Fund (IMF) has approved a four-year, $4 billion arrangement with Ecuador under its Extended Fund Facility (EFF) to avoid a debt default. However, the IMF's assistance comes with conditions, including the elimination of fuel subsidies, which could lead to protests. The government is also expected to announce a new tax reform in November to satisfy the IMF's fiscal sustainability requirements. The success of these measures will be crucial for President Noboa's administration, as it seeks to maintain economic stability and popularity ahead of the next general elections in February 2025. [Extracted from the article]