Bloomberg Tax
Aug. 26, 2021, 2:11 PM

Ecuador Close to Completing New IMF Deal: Finance Minister Cueva

Stephan Kueffner
Stephan Kueffner
Bloomberg News

Ecuador nears a follow-up agreement with the IMF, Finance Minister Simon Cueva said in an interview with Radio Sucesos.

  • “We are in progress these days and we are very close to closing“ a deal succeeding the $6.5b IMF Extended Fund Facility signed in 2020
  • “Everything is well on track for that,” which will lead to $4.5b-$4.6b in funding to close requirements for the year
  • Ecuador on Monday received its share of close to $950m in new IMF Special Drawing Rights that are being exchanged into dollars
    • Proceeds from the SDR distribution will go to investment and social services
  • Beyond the ...

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