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Ecuador, closer to receiving loans from multilateral agencies
Posted On 06 Jul 2017
Ecuadornews:
Ecuador received $ 269 million from eight international funding agencies. From May to June a movement in the balance of the Central Bank of Ecuador was recorded. The Inter-American Development Bank (IDB), the Latin American Development Bank (CAF) and the Latin American Reserve Fund (FLAR), are three of the five multilateral lenders that have granted loans to the country.
This fact is relevant considering that the greater the loan, the greater the financing amount a country can request.
Fidel Marquez, an economist and President of the Ecotec university, goes a little further and recalls that the FLAR grants credits when a state has problems with its balance of payments – like Ecuador – and that the amount of this credit line is 2.5 times higher than the quota of a country. (I)
Source: http://www.expreso.ec/economia/mas-cerca-de-los-multilaterales-GC1523778
