IDB Approves $500 Million Budget Support for Ecuador to Strengthen Macroeconomic Stability
Ecuador, Sept. 3 -- The Board of Executive Directors of the Inter-American Development Bank (IDB) approved a $500 million Special Development Loan (SDL) for Ecuador to help the country advance reforms and measures that promote macroeconomic stability.The operation, part of an IMF-led package of international support, will allow the country to proceed with structural reforms to improve its fiscal sustainability while protecting financing for social programs that benefit poor and vulnerable segments of the population. Additionally, the loan will allow the country to bolster its dollar currency reserves, promoting the stability of its money market. The IDB's Special Development Loan is for a period of seven years, a grace period of three years...
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