IMF, IDB, World Bank, CAF and Chinese Banks will deliver this money to the country.
The President of the Republic, Lenín Moreno, announced that Ecuador will acquire a new debt for USD 7.15 billion in the next three months with various multilateral organizations. These resources would serve for the Government to pay the salaries that it has pending with suppliers, Parish Boards, Municipalities, Prefectures, public servants and Social Security.
“In the next three months we will receive $ 7.15 billion from the International Monetary Fund (IMF), the World Bank (WB), the Inter-American Development Bank (IDB), the Andean Development Corporation and Chinese banks,” Moreno said.
In this sense, Moreno said that the IMF has already delivered the first disbursement to the country for USD 2 billion and the next allocation would be in December.
Details of the rest of the loans are still unknown, but the Ministry of Economy and Finance said that in the next few days it would share this information.
On the other hand, President Moreno announced that in the agreement with the International Monetary Fund five goals were agreed to be carried out in this Government and in the next.
- The first is to achieve a global nonfinancial public sector surplus of 0.6% in 2022.
- The second objective: to gradually reach a level of debt over the Gross Domestic Product (GDP) of less than 57% by 2025.
- The third is to improve transparency in Central Bank audits and strengthen its autonomy.
- The fourth fight against corruption, through legislation that criminalizes those acts “that do us so much damage inside and outside the country.”
- Finally, for the following governments we will prepare solutions to make social security sustainable, guarantee greater progressivity in the tax system, and give more transparency to public accounts, among other issues.
Be the first to comment