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Weekly Report - 03 September 2020 (WR-20-35)
ECUADOR: Moreno celebrates credit bonanza
With preparations underway ahead of next February’s general election [WR-20-34], on 28 August Ecuador’s President Lenín Moreno made an announcement of considerable significance for his aspiring successors: the completion of a provisional agreement with the International Monetary Fund (IMF) to access some US$6.5bn in credit over the next 27 months, through the multilateral organisation’s Extended Fund Facility (EFF), subject to approval by its executive board. On 2 September, Moreno further announced that his government had secured a US$2bn loan from China.
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