Ecuador will receive credits from the IMF and other agencies for $ 10.2 billion – 20/02/2019

Ecuador announced Wednesday that it would receive loans in the amount of 10 200 million dollars organizations such as the International Monetary Fund (IMF) and the World Bank (WB) with which the previous government had broken off their relationship.

"We are going to receive more than $ 10,000 million, what good news! rate not exceeding on average 5% and with durations of up to 30 years ", President Lenin Moreno said on radio and television.

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The country will have 4.200 million dollars from the IMF and $ 6,000 million from the World Bank, the Inter-American Development Bank, the Latin American Development Bank, the European Investment Bank and the Latin America Reserve Fund. and the French Development Agency, said the president.

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This will be the first agreement with the Monetary Fund since 2003. According to the newspaper L & # 39; universe, there had already been reconciliations between the agency and the government since 2017, after the end of Rafael Correa's term as director general (2007-2017).

Similarly, it has been agreed with the United Nations to control the destination of funds to social investment.

"The most important organizations in the world have decided to join the road we are building, they have decided to support our government's prosperity plan," said Moreno.

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And he remarked, "Thanks to the firm decisions I've made, We are not what Venezuela is today. "

With information from AFP