The socioeconomic impact of Ecuador and its relationship with the International Monetary Fund during Covid-19

Abstract

The economic impact generated by the pandemic has hurt the financial sector in all countries, and we can say that the epidemic has strongly affected the economy of Ecuador at an unprecedented speed and severity. In Ecuador, due to Covid, there are already registered business closings, more unemployment, lack of supplies, famine, among other factors. The current objective is to seek the collaboration of an-International Organization (IO), such as the International Monetary Fund (IMF), which does everything in its power to ensure that Ecuador, a country affected by this pandemic, has a Rapid support through emergency funding, policy advice and technical assistance. With this article it is possible to know what are the mechanisms that the Ecuadorian state should adopt and use to improve, reopen and increase its economy during and after this world catastrophe caused by the Covid-19, therefore, the study of this article is carried out within the following types of research, Descriptive, Analytical and Bibliographic.