LatinNews Daily - 13 March 2020

* Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), had held a phone conversation with Ecuador’s President Lenín Moreno in which she offer the organisation’s continued support in the face of the country’s economic struggles, exacerbated by the recent collapse in international oil prices and the coronavirus (Covid-19) pandemic. An IMF spokesperson praised Moreno’s package of emergency economic measures – which have faced widespread criticism in Ecuador – as a “positive step”, and committed to “working closely with the Ecuadorean authorities to help them navigate this challenging and changing economic environment”. In 2019 the IMF extended the Moreno administration a US$4.2bn credit line on the condition that it carries out a programme of comprehensive structural reform to eliminate the country’s fiscal deficit, but his reform agenda had been put on hold after widespread protests in October 2019.

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