February 22, 2019 |
Ecuador said it has reached agreements to receive $10.2bn in financing from multilateral agencies and development banks, led by the IMF.
Ecuador agreed to a $4.2bn financing package from the IMF and also secured $6bn from the World Bank, the Inter-American Development Bank (IDB), the Latin American development bank CAF, the Fondo Latinoamericano de Reservas (FLAR), the European Investment Bank (EIB) and the French development agency AFD.
"It is low-cost and long-term support that will allow the
IMF signs on for $4.2bn, while six other lenders contribute $6bn to a cut-rate financing plan