IMF approves $6.5 bln loan for Ecuador

IMF approves $6.5 bln loan for Ecuador

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Ecuador

The International Monetary Fund (IMF) said late Wednesday that it had approved a 2.25-year, $6.5 billion loan to Ecuador as required in the country's restructuring plan.  Ecuador will receive $2 billion immediately through the loan, which "aims to protect the lives and livelihoods in the wake of the COVID-19 pandemic and continue to support efforts to stabilize the economy," the IMF said in a press release. The loan's other objectives include debt transparency, "robust" cash management practices

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