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Andean Group - July 2016 (ISSN 1741-4466)
ECUADOR: IMF provides post-earthquake financial support
The International Monetary Fund (IMF) has agreed to provide post-earthquake financial support to the tune of US$364m to Ecuador. Relations between the left-wing Alianza País (AP) government led by President Rafael Correa and the IMF have long been strained but the former cannot afford to be picky about its financial backers in the wake of the devastating earthquake on 16 April which comes at a time when it is staring at a heavy contraction anyway due to the low price being fetched by Ecuadorean crude on international markets.
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