LatinNews Daily - 20 December 2019

* The International Monetary Fund (IMF) approved the disbursement of a US$498.4m tranche of its US$4.2bn credit agreement with Ecuador. In a statement, the IMF singled out the recently approved tax reform, which it said would “raise revenues and make the tax system more growth-friendly, simple, and equitable”. The economy minister, Richard Martínez, said that the IMF’s decision was reward for the government’s “responsible and orderly” efforts to reduce the fiscal deficit through its ‘prosperity plan’, prioritising “social protection and fiscal sustainability”.

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