IMF disbursement will arrive in Ecuador in the first weeks of March

President Lasso announced that, between the last weeks of February and the first weeks of March, a new disbursement will arrive from the International Monetary Fund (IMF) to Ecuador. In the same way, a new loan with the World Bank would be closing for another USD 700 million.

Currently, the level of indebtedness in Ecuador represents 59.4% of the Gross Domestic Product (GDP) and, according to several projections, it will not fall significantly until 2040. Despite this, the Government continues to manage new disbursements with multilaterals, with the in order to cover the fiscal deficit of recent years.

Lasso indicated that Ecuador is awaiting an IMF mission to validate the closing figures for 2021 and, once this is concluded, a new disbursement is expected for this year.

“I calculate that at the end of February or in the first weeks of March we will have the disbursement of the International Monetary Fund,” said the President.

In addition, he indicated that a World Bank meeting will be held on February 8, where a loan of about USD 700 million will be approved for Ecuador.

To conclude, he stressed that Ecuador will also request new loans from China and that does not mean that there is a problem with the IMF or other multilateral organizations.

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