IMF will deliver a new disbursement of USD 700 million to Ecuador

IMF will deliver a new disbursement of USD 700 million to Ecuador

The Minister of Economy and Finance, Simón Cueva, said that he expects another review and disbursement of USD 700 million by the end of 2022.

In addition, he assured that a part of that money will be used to pay the debt with the IESS, private providers and Decentralized Autonomous Governments, hospitals and security.

Cueva stressed that requesting financial aid from the IMF again would not be ruled out, since the important thing would be to maintain good relations with multilateral organizations and, with that, request new loans, only if they are necessary.

In the same way, he stated that, in case of not requesting new disbursements, an accompaniment from the IMF is expected for Ecuador and that it carry out evaluations every six months, in order to implement its recommendations and “improve the country’s economic balance”.

The Minister also indicated that the USD 1,000 million that will arrive in Ecuador in the coming weeks will be used to cover obligations of the General State budget and also to pay internal debt.

“The resources that come are to cover budget obligations, to cover debts with IESS, health providers and GAD, social projects with roads, security issues, hospitals and health care”

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