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LatinNews Regional Monitor: Andean Group - 01 July 2019

In brief: Ecuador

* The International Monetary Fund (IMF) has approved a second disbursement of US$251m for the prosperity plan promoted by the Ecuadorean government with a 10-year term and interest rate of 3.2%. This is in addition to US$500m from the Inter-American Development Bank (IDB), US$150m from the Latin American Development Bank (CAF), and US$500m from the World Bank. An official press release from Ecuador’s economy & finance ministry cites the IMF as saying that the prosperity programme is showing positive results: an improvement in the country’s fiscal position, an increase in international reserves, and a drop in financing costs.