Page "Economy of Ecuador" Paragraph 5

The Noboa government confirmed its commitment to convert to the dollar as the centerpiece of its economic recovery strategy, successfully completing the transition from sucres to dollars in 2001.

Following the completion of a one-year stand-by program with the International Monetary Fund ( IMF ) in December 2001, Ecuador successfully negotiated a new $ 205 million stand-by agreement with the IMF in March 2003.