Ecuador obtains USD 6.5 billion loan from the IMF

Government will distribute these resources to the most affected sectors.

President Lenín Moreno announced that the International Monetary Fund (IMF) approved the loan for USD 6.5 billion for Ecuador.

According to Moreno, the event was unanimously registered at 10:30 on Wednesday, September 30, as planned.

The president indicated that in the afternoon he will meet with his ministers to allocate resources and channel those who have been most affected. The money is part of the economic program proposed by the Government to the IMF.

According to the Fund, the new loan will serve to expand coverage of social assistance programs and ensure fiscal and debt sustainability.

Days ago, it was known that the resources will be distributed until 2022 and will have an interest rate of less than 3% and the payment term will be 10 years.

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