Financing Position Improves

March 2005
Latin America Monitor: Andean Group Monitor;Mar2005, Vol. 22 Issue 3, p7
Country Report
Country Report
This article presents information on the economic condition in Ecuador. Things are looking up for the economy, as the International Monetary Fund's seal of approval and S& P upgrade have opened the door for other multilateral financing. A significant increase in oil revenues has underpinned the recovery and improved the fiscal accounts, alleviating concerns about the hefty financing gap. Under a monitoring agreement, the Fund will assess progress on meeting a range of fiscal targets. This has opened up the door to financing from other international financial institutions (IFIs), with the Inter-American Development Bank (IDB) and World Bank pledging around 400million U.S. dollars in loans this year.


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