Last Monday, march 23, the Ecuadorian government announced, through national channels, that they will stick to the 30 days grace period for not paying any interest provided by the debt to this month, but they will continue to pay the USD 325 million of capital bonds 2020.
This decision was taken in order to help the country get new financing options, therefore being able to get the USD 2,000 millions in loans through the next few weeks.
From which, USD 500 million will come from the International Monetary Fund (IMF), other USD 500 million from multilateral institutions like BID, World Bank and CAF; the rest will come in form of bilateral debt with China, un-attached to the completion of any project.
Source:
(El Comercio)
URL: https://www.elcomercio.com/actualidad/fmi-recursos-crisis-covid19-martinez.html
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