QUITO (Reuters) – The IMF on Thursday stated its government board accomplished the primary overview of an prolonged fund facility for Ecuador, permitting for a direct disbursement of round $500 million.
In a press release, the IMF famous Ecuador’s “vital progress” implementing its financial reform program.
“The authorities’ robust and decisive coverage efforts helped safeguard macroeconomic stability, strengthen the fiscal and exterior positions, and shield weak teams amid a difficult setting,” the IMF stated.
The most recent disbursement is a part of the $4 billion four-year association that the IMF’s government board permitted in Might and follows an preliminary disbursement of $1 billion.
The IMF “alerts that the nation has significantly strengthened the sustainability of its public funds and has superior within the implementation of necessary structural reforms,” Ecuador’s authorities stated in a press release.
