Ecuador announces $ 1.45 billion of international loans

L’Équateur annonce 1,45 milliard de dollars de prêts internationaux

Quito | Ecuador announced on Thursday that it would receive $ 1.45 billion of loans from international agencies including the imf and the world Bank to address the epidemic of coronavirus, which has hit hard. 

Many people have been asking which licensed money lender in Singapore can give the low interest and fasted approval loan? The loans ” will be used for the recovery of the economy and to the safeguarding of employment “, said in a televised speech the president Lenin Moreno.

The country is one of the most heavily affected in latin America, with nearly 30 300 cases, and 1 654 deaths, for a population of about 17.5 million inhabitants.

The mayor of the economic capital of the country, Guayaquil, reported Thursday that a third of the inhabitants of this port city had been sick of the Covid-19, according to a statistical study.

The IMF was approved on may 2, emergency assistance to 643 million, and the world Bank approved on Thursday a payment of $ 506 million.

The loan of the development organization is designed ” to support the response to the Covid-19, and to strengthen the ecuadorian program of macroeconomic stabilization and growth for the benefit of all “, explained the world Bank in a press release.

Mr. Moreno added that his country would receive $ 300 million of the Bank’s Latin american development (CAF).

The health crisis has caused them to lose $ 11 billion, according to the minister of Production Ivan Ontaneda, to the economy of a country heavily dependent on its oil exports.

The government, which forecast growth of just 0.7% even before the crisis, estimated that the gross domestic product will contract by 4% this year.

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