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ILN Today Post

Ecuador – IMF reached agreement on $6.5 bln facility and funds are being disbursed

Ecuador and The International Monetary Fund reached an agreement for a new $6.5 billion facility to help the South American country address the economic shock caused in part by the  drop in oil prices  and the COVID-19 pandemic.

The agreement approved by the IMF’s executive board, helped for the already executed settlement of a $17.4 billion debt exchange between Ecuador and its creditors.

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