The Government expects to receive USD 500 million from the World Bank, USD 2.000 million from the IMF, USD 1.400 for oil credit operations with Chinese Banks and USD 1,000 million from other multilaterals.
In September of this year, the country’s Public Debt reached USD 57.804 million, which is equivalent to almost 60% of the Gross Domestic Product (GDP), but the Government projected to acquire a new debt for USD 4.900 million in the next two months to comply with the obligations that are pending.
The Government expects USD 500 million from a loan with the World Bank in November, in the same way, USD 2 billion more from the IMF, in December. Although for this disbursement to take place, the Government must meet the goals set by this multilateral organization.
Another of the government’s projections is to receive USD 1.4 billion for a credit operation, which is linked to the sale of oil with Chinese banks ICBC and CDB. In addition, another USD 1 billion would arrive in credits from multilateral organizations, before the end of the year.
The September report, published by the Ministry of Finance, does not include the new disbursement for USD 2 billion that the International Monetary Fund (IMF) gave to the country, if to this are added the USD 4.9 billion that the Government has projected to receive, Before the end of the year, Public Debt would reach almost USD 65.000 million and would be equivalent to USD 62.5% of GDP.
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According to the figures published by the Ministry of Finance in May 2017, when President Moreno took office, the country’s Public Debt was USD 27.971 million, which would show that in less than 4 years of government, Ecuador became indebted for almost USD 40.000 million.
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