USD 700 million would come from the IMF; USD 700 million from the World Bank; USD 500 million from the IDB and USD 200 million from the CAF.
The President of the Republic, Guillermo Lasso, announced that the country expects new disbursements from multilateral organizations for next year. In total, the money that reaches the country from the IMF, World Bank, IDB and CAF is expected to be around USD 2.1 billion.
With a cut to July 2021, the country’s public debt exceeded USD 63,000 million, which represents 61.52% of the total of the entire Gross Domestic Product (GDP) of Ecuador.
The President indicated that the second disbursement by the International Monetary Fund (IMF) would take place in January, since in December he visited the country to verify that his recommendations have been fully complied with.
In addition, the World Bank would meet the first weeks of January 2022, so that its board of directors approves another disbursement for the country for USD 700 million.
Similarly, Lasso announced that there is a disbursement for USD 500 million from the Inter-American Development Bank (IDB) that was also approved and another loan from the Andean Development Corporation (CAF) for USD 200 million.
The President also pointed out that in the first quarter of next year, Ecuador will once again enter the international bond markets.
“In order to obtain resources and liquidity, for the financing of social works and investments in the field of infrastructure.”
Source: President Lasso interview with AER
Be the first to comment