Advanced Search

LatinNews Regional Monitor: Andean Group - 4 July 2019

In brief: Ecuador

* The Inter-American Development Bank (IDB) has approved a US$300m loan to Ecuador, with a repayment period of 20 years, a six-year grace period, and an interest rate based on Libor. This is part of the US$1.72bn that the IDB has earmarked for the country until 2021. These IDB resources support Ecuador’s fiscal stability, sustainable growth, and social development. In a press release, Ecuador’s economy & finance minister, Richard Martínez, commented that this loan is a further sign of the increasing international confidence in the country and notes that the IDB has been one of the main financers of Ecuador’s development.