Resolution JPRFM-2026-020-A Approves the Report on the State of the Economy for Fiscal Year 2025 and the Economic Projection for 2026

RESOLUTION No. JPRFM-2026-020-A THE BOARD OF FINANCIAL AND MONETARY POLICY AND REGULATION

CONSIDERING:

That, Article 226 of the Constitution of the Republic of Ecuador prescribes that public officials and persons acting by virtue of a state power shall exercise only the competencies and faculties attributed to them in the Constitution and the Law;

That, Article 227 of the same instrument states that Public Administration constitutes a service to the community governed by the principles of effectiveness, efficiency, quality, hierarchy, coordination, planning, among others;

That, the first paragraph of Article 303 of the constitutional norm determines that the formulation of monetary, credit, exchange, and financial policies is the exclusive faculty of the Executive Function and shall be implemented through the Central Bank of Ecuador;

That, on October 13, 2025, the Organic Reformatory Law of the Organic Monetary and Financial Code was published in the Sixth Supplement of the Official Register No. 142;

That, Article 13 of the Organic Monetary and Financial Code creates the Board of Financial and Monetary Policy and Regulation, part of the Executive Function, as an entity with functional, technical, and institutional autonomy, and in its decisions, responsible for the formulation of monetary, credit, financial, securities, insurance, and prepaid comprehensive health care services policy and regulation. The Board of Financial and Monetary Policy and Regulation shall be the highest governing body of the Central Bank of Ecuador;

That, Article 24 of the same Code provides that the acts of the Board of Financial and Monetary Policy and Regulation enjoy the presumption of legality and shall be expressed through resolutions that will have mandatory force, which shall govern from their publication in the Official Register, or from the date of their issuance when so determined by the Board, in accordance with the subject matter;

That, Article 25.2 of the same instrument determines that the Technical Secretariat of the Board of Financial and Monetary Policy and Regulation is exercised by the Central Bank of Ecuador, and Article 25.3 establishes as its functions the preparation of technical and legal reports that support regulation proposals, provide technical and administrative support to the Board of Financial and Monetary Policy and Regulation, and those otherwise assigned by said Board;

That, Article 26 of the Organic Monetary and Financial Code determines that the Central Bank of Ecuador is a public law legal entity, part of the Executive Function, of indefinite duration, with institutional, administrative, budgetary, and technical autonomy; that in the exercise of its functions and attributions it shall be governed by the Constitution of the Republic, the Organic Monetary and Financial Code, its statutes, the regulations issued by the governing body, internal regulations, and other applicable laws regarding the subject matter;

That, the second paragraph of Article 32 of the aforementioned Code establishes that: "(...) Within four months following the close of its fiscal year, the Central Bank of Ecuador shall publish, and present to the National Assembly and the public finance regulatory authority, a report approved by the Board of Financial and Monetary Policy and Regulation, on the state of the economy during said fiscal year, including an economic projection for the following year, emphasizing its policy objectives (...)");

That, the Twenty-Ninth General Provision of the Organic Monetary and Financial Code states: "In existing legislation where mention is made, indistinctly, of the Board of Monetary and Financial Policy and Regulation, the Board of Monetary Policy and Regulation; or, the Board of Financial Policy and Regulation, replace and understand as 'Board of Financial and Monetary Policy and Regulation';

That, the First Transitional Provision of the Organic Reformatory Law of the Organic Monetary and Financial Code determines that the members of the Board of Financial and Monetary Policy and Regulation, sworn in on September 16, 2025, by the National Assembly, will continue to exercise their functions for the periods for which they were designated and will maintain their labor continuity and acquired rights;

That, through Office No. T.233-SGJ-25-098, dated September 5, 2025, signed by the Constitutional President of the Republic, addressed to the President of the National Assembly, the list of candidates for the designation of the Members of the Board of Financial and Monetary Policy and Regulation was sent; as well as, the temporality of their stay within the initial period;

That, the Plenary of the National Assembly, on September 16, 2025, designated and swore in the members of the Board of Financial and Monetary Policy and Regulation, in the persons of: Gustavo Estuardo Camacho Dávila; Silvia Daniela Moya Arteta; Roberto Javier Basantes Romero; and, María Isabel Camacho Cárdenas;

That, the Board of Financial and Monetary Policy and Regulation, in ordinary session No. 012-2026, under hybrid modality, on April 29, 2026, reviewed the proposal sent via Memorandum No. BCE-BCE-2026-0134-M, dated April 24, 2026, by the General Manager of the Central Bank of Ecuador to the President of the Board of Financial and Monetary Policy and Regulation; and the Legal Report No. BCE-GJ-038-2026, dated April 21, 2026;

In exercise of its functions and in attention to Article 24 of the Organic Monetary and Financial Code, the Board of Financial and Monetary Policy and Regulation,

RESOLVES:

Sole Article. - Approve the "Report on the state of the economy corresponding to fiscal year 2025 and the economic projection for the year 2026", presented by the Central Bank of Ecuador.

FINAL PROVISION. - This resolution shall enter into force from its issuance, without prejudice to its publication in the Official Register.

The publication of this resolution on the institutional website is entrusted to the General Secretariat of the Central Bank of Ecuador.

COMMUNICATE AND PUBLISH. - Given in the city of Cuenca, on April 29, 2026.

THE PRESIDENT Master Gustavo Estuardo Camacho Dávila

The resolution above was processed and signed by Master Gustavo Estuardo Camacho Dávila -

RESOLUTION No. JPRFM-2026-020-A Page | 4 President of the Board of Financial and Monetary Policy and Regulation, in the city of Cuenca, on April 29, 2026.- I CERTIFY. TECHNICAL SECRETARIAT Lawyer Ninoska Geovanna Ceballos Pin