IMF makes emergency loan to Ecuador of 364 million dollars

Posted on July 9, 2016 • Filed under: Economy, Ecuador

IMF granting loan under Rapid Financing Instrument
Loan does not come with conditions, money being disbursed immediately

enca.com reported the International Monetary Fund said Friday it approved a $364 million emergency loan to Ecuador after the country was hard-hit by an earthquake in April.

The money will help the country steady its finances while it addresses the huge losses from the quake, which killed some 700 people.

“The April 16 earthquake that hit Ecuador caused significant humanitarian losses and damage to infrastructure, housing, and agriculture,” said IMF Deputy Managing Director Min Zhu in a statement. Read Article

WANT TO LIVE IN ECUADOR – THIS IS ONE BOOK THAT SHOULD BE READ – READ ABOUT CHALLENGES EXPATS FACE

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