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This Fund-supported programme will help Ecuador address the economic shock caused by the sharp drop in oil prices and the COVID-19 pandemic. It also paves the way for the…
COVID-19 lockdown measures and low oil prices are weighing on the economy, which the IMF expects to contract by 6.7% this year. According to the IMF, Ecuador’s gross financing…
The re-opening comes despite an infection rate that is expected to peak only later this year.
Details
DOI: 10.1108/OXAN-DB252979
ISSN: 2633-304X
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In August, it asked the IMF for a USD1.75bn credit under the Extended Fund Facility. This will come on top of the USD504mn approved by the IMF for emergency financial assistance…