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Correa confirms credit offer “unconditional” IMF
Posted On 01 May 2016
President of the Republic, Rafael Correa, confirmed today that the International Monetary Fund (IMF) offered his country a line of credit for 400 million dollars, “without conditions” that could be used in repairing damage the earthquake last April 16.
The president, in the regular report Saturday radio and television, said that currently the country has about 640 million in lines of credit from the Development Bank of Latin America (CAF), the Inter-American Development Bank (IDB) and World Bank, “ready to use”.
“There liquidity” and the amount “can go from one billion, because even the International Monetary Fund offered a line of 400 million, without conditions,” said Correa, but did not specify whether to use that loan.
The ruling has been reluctant to agree with the IMF usually imposes conditions on its funding lines for Correa, are part of the neoliberal model which, according to him, did not work in Latin America (I).
