These days, the CAF will disburse a quick loan for Ecuador, while the new IMF credit arrives. Of the members, only Mexico voted against.
The Directory of Bank of Latin America (CAF) approved a short-term bridge loan of USD 800 million for Ecuador, according to the media First fruits. Well, the multilateral, according to its website, is made up of 19 countries in Latin America and the Caribbean, including Ecuador, Colombia, Mexico and others, as well as Spain, Portugal and also 13 Latin American private banks.
The disbursement of 800 million dollars that Ecuador will receive is in addition to those that will be disbursed by the International Monetary Fund (IMF), which on April 25, 2024 reached a technical agreement with Ecuador for a new credit program for USD 4,000 million.
The CAF has only detailed that “the operation was approved under the instrument called Extraordinary Liquidity Financing (FEL) available to CAF.” And he added that it will serve as financing so that “Ecuador can continue with the negotiation of an Extended Facilities Agreement with the IMF, today approved at the staff level, for the benefit of its fiscal stability, macroeconomic stability, promotion of inclusive growth and protection of the most vulnerable,” said the entity.
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