IDB foots reforms in Ecuador

IDB foots reforms in Ecuador

Loans Debt Corporate & Sovereign Strategy Economy & Policy Politics Ecuador

The Inter-American Development Bank (IDB) said it has granted a seven-year $500m loan to help Ecuador to implement spending cuts. The emergency loan supports a reform agenda that "enables the private sector to take over from the public sector as the main driver of Ecuador's economic growth," the IDB said in a press release.  The proposed reforms involve cuts to public spending, but the government has promised to spend $370m on social programs in 2019 and spend at least 1% of GDP on social progra

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