IMF poised to approve over $500 million in pandemic aid for Ecuador- Reuters
The International Monetary Fund’s executive board is scheduled on Friday to consider Ecuador’s request for emergency financing to fight the coronavirus pandemic, the IMF’s website said, a sign that approval of some $500 million in aid is imminent.
Setting a firm date for board consideration usually indicates that the proposal is slated for approval, according to sources familiar with the process.
Ecuadorean Finance Minister Richard Martinez last month said the cash-strapped Andean nation had reached a deal with the IMF for $500 million in financing. IMF officials this month said they were working to process the request as soon as possible.
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