The organization announces that the head of the IMF mission for Ecuador has held a conversation with the leaders of the PSC and CREO
The International Monetary Fund (IMF) is preparing a new credit line for USD 250 million for Ecuador as part of the rapid financing instrument, due to the negative effects of the COVID-19 pandemic. This was announced by the Bloomberg organization on June 3, 2020.
The Washington-based multilateral agency would be discussing this loan, as well as more funds through a successor agreement. Bloomberg notes that the information is obtained from people who requested anonymity because the conversations are private.
On May 2, the IMF approved Ecuador’s request for emergency financial assistance under the Rapid Financing Instrument (RFI) of approximately USD 643 million.
This loan was for emergency financial assistance that will support the balance of payments needs of the country and its most affected sectors, including the health system and social protection.
According to the Bloomberg publication, Anna Ivanova, head of the IMF mission in Ecuador, spoke with leaders Jaime Nebot of the Social Christian Party (PSC) and Guillermo Lasso, of the CREO movement, “as well as other key stakeholders, they said people”.
In addition, they report that IMF spokesman Gerry Rice said staff members are working closely with authorities on a successor program that will strengthen Ecuador’s economic performance.
Source: Bloomberg
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