This loan will be added to the USD 6.5 billion agreement that the country negotiated with the IMF.
The President of the Republic, Lenín Moreno, held a meeting with several ministers and members of his Cabinet in Guayaquil to talk about the economic situation the country is going through. At this meeting, the President announced that Ecuador will receive a new loan from China for USD 2 billion in the coming months.
In the same way, he defended the early payment of the debt that the country made, since, as he indicated, this opened the possibility of acquiring new credits.
“The International Monetary Fund approved an exceptional loan for USD 6.500 million and this year we are going to receive 2.000 million dollars also from the People’s Republic of China in a bilateral loan.”
For his part, the Minister of Economy, Richard Martínez, said that with these credits they will try to catch up on the payment of salaries to public officials. This, despite the fact that there is a sentence for the State to guarantee its cancellation in the first days of each month.
In addition, he indicated that Ecuador has already received USD 2 billion in credits from multilateral organizations to address the pandemic and will receive USD 8.500 million, USD 6.500 from the IMF, with an agreement for which the negotiation terms are still unknown and USD 2 billion from a new credit with China.
Be the first to comment