Ecuador, IMF strike financing deal

Ecuador, IMF strike financing deal

Bonds Debt Capital Markets Corporate & Sovereign Strategy Economy & Policy Fixed Income Loans Ecuador

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

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