IMF board approves $4.2 bln financing deal with Ecuador
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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.