Quito, Nov 4 (EFE) .- The Government of Ecuador confirmed this Thursday that the Latin American Reserve Fund (FLAR) disbursed the country an amount of 308 million dollars, aimed at supporting the Executive’s economic program and solving liquidity.
The Ecuadorian Ministry of Economy, in a statement, specified that the amount delivered by FLAR corresponds to a loan approved by the agency for the country, with a 12-month term and an interest rate of 1.35 percent.
The Minister of Economy, Simón Cueva, highlighted the approval of this line of financing and said that this shows that the economic policy developed by the Government of Ecuador has the support of the international community.
The support of the credit organizations is due to a serious and responsible management of public finances, added Cueva.
The Government of Ecuador has based its economic development strategy on the financing of multilateral organizations, with the aim of overcoming an economic crisis inherited from previous years and aggravated by the coronavirus pandemic.
In addition to FLAR, Ecuador has reached agreements with the International Monetary Fund (IMF), the Inter-American Development Bank (IDB), the Development Bank of Latin America (CAF) and the World Bank (WB).
(c) EFE Agency
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