The IMF reviewed the goals derived from the Agreement with the Ecuadorian Government.
The International Monetary Fund moved for May 1, the discussion on the credit requested by Ecuador, of $ 500 million, to solve problems generated by Covid-19.
In the first instance it had been announced that it would take place on April 30, but yesterday the change was decided, due to agenda issues.
According to the new calendar, this May 1 the IMF will hear the various requests for help from countries such as Malawi, Ecuador and Georgia.
In the case of Malawi, a credit is required under the modality of RCF (Rapid Credit Facility); and with Georgia, the IMF must do the sixth revision of an Extended Facility Agreement. Instead Ecuador has requested an IRF (Quick Financing Instrument).
In the case of Ecuador, a request for $ 500 million has been made, although it has taken steps to grant it greater aid.
According to the IMF, the Rapid Financing Instrument (IFR) provides rapid financial assistance that is available to all member countries facing an urgent need for balance of payments.
The term of the credit is 4 to 5 years. (C.D.A.)
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