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dropdeadfred

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dropdeadfred

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Re: fung_derf post# 504

Friday, 04/12/2019 12:01:09 PM

Friday, April 12, 2019 12:01:09 PM

Post# of 688
Nice timing, yeah?

IMF board approves $4.2 bln financing deal with Ecuador

2 Min Read

QUITO, March 11 (Reuters) - The International Monetary Fund’s executive board on Monday approved the $4.2 billion financing deal with Ecuador its staff reached last month, the Fund said in a statement.

The deal will allow the Andean country to receive an immediate disbursement of $652 million, and opens the doors for it to receive an additional $6 billion in loans from other multilateral institutions as it struggles with tight liquidity because of a wide fiscal deficit and a hefty foreign debt load.


https://www.reuters.com/article/ecuador-imf/imf-board-approves-42-bln-financing-deal-with-ecuador-idUSL1N20Y1O6
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