IMF Approves $620M for Ecuador's Recovery

IMF Approves Staff-Level Agreement with Ecuador, Unlocking $620M Disbursement: The International Monetary Fund (IMF) has reached a staff-level agreement with Ecuador, paving the way for a potential $620M disbursement. This comes after Ecuadors strong economic recovery during the first three quarters of the year, driven by domestic demand and favorable non-oil exports. The countrys financial system liquidity supports credit expansion, and macroeconomic stability has been maintained despite a drop in oil prices. Ecuador has met all performance criteria and indicative targets, with authorities taking measures to improve fiscal sustainability and liquidity buffers.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.