Washington
The International Monetary Fund on Wednesday said it had approved a $6.5 billion loan for Ecuador to help the country deal with the shock of the Covid-19 crisis.
The Washington-based lender’s executive board said it would immediately disburse $2 billion for budget support as part of a 27-month arrangement through an Extended Fund Facility.
“The program aims to protect 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 statement.–AFP
