August 31, 2020 |
The International Monetary Fund (IMF) said Friday that it agreed to lend $6.5 billion to Ecuador, fulfilling a requirement in the country's restructuring plan before the deadline on September 1.
In early August, when Ecuador reached a deal to restructure $17.4 billion worth of bonds, it agreed to take out a new loan from the IMF as part of the agreement.
Ecuador and the IMF held meetings online from July 29 to August 27 to negotiate a new credit line and settled on a 2.25-year Extended Fund Faci
Andean nation gets a $6.5 bln facility to fulfill the requirements of its restructuring agreement