Buenos Aires, Jul 25: Ecuador and the International Monetary Fund (IMF) may reach a new agreement on financial aid for the Latin American nation hit by the economic crisis caused by the COVID-19 pandemic, Ecuadorian President Lenin Moreno said.
In May, the IMF satisfied Ecuador’s request for the urgent $643 million aid, which was made after the economic crisis had hit the Latin American nation.
“We had a productive dialogue with [IMF Managing Director] Kristalina Georgieva! Kristalina has marked our work on restructuring the debt and reaffirmed the IMF support for a new agreement on funds that will help us overcome the crisis, help the most vulnerable groups of people and boost the economy,” Moreno wrote on his Twitter page on late Friday.
The coronavirus-linked crisis has already made the Ecuadorian government decrease public expenditure by $4 billion.
(AGENCIES)
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