Previous Story
If the bill for the Defense of Dollarization in Ecuador is not approved, the next IMF disbursement of $ 450 million would be put on hold
Posted On 02 Mar 2021
Yesterday the Legislative Administration Council (CAL) did not qualify the second proposal of the urgent bill of the Law Executive for the Defense of Dollarization, which, if not processed and not approved, the next disbursement of the International Monetary Fund would be put on hold. (IMF), to which would be added the little possibility that other international organizations grant loans, think economic analysts.
If the bill for the Defense of Dollarization in Ecuador is not approved, the next IMF disbursement of $ 450 million would be put on hold
This is because, among the commitments with the IMF, is to seek the independence of the Central Bank of Ecuador and the protection of dollarization, says analyst Walter Spurrier.
“The IMF has to do a review this month of how Ecuador is complying with its commitments. The control of public spending is being fulfilled, but if the legal change condition (the bill) of the Defense of Dollarization Law is not approved, the mission will not allow its report to be submitted to the board of directors requesting that the disbursement be made. , and the next government would have to see what it does about it ”, he indicates.
The proposal for the technical agreement reached with the IMF was the financing of $ 6,500 million for 27 months. Until last September and December, $ 4,000 million have been disbursed and it is expected that in April it will be $ 450 million.
