IMF and Ecuador reach agreement on $4.2 billion fund

WASHINGTON – The International Monetary Fund’s staff has agreed to support the economic policies of the Ecuadorean government with $4.2 billion over the next three years.

The arrangement is expected to be brought to the IMF Executive Board for its final approval in the coming weeks.

The IMF said the agreement is part of a broader effort by the international community that includes financial support of almost $6 billion over the next three years from the Development Bank of Latin America, the Inter-American Development Bank, the Latin American Reserve Fund and the World Bank.

“The government’s plan is aimed at creating a more dynamic, sustainable, and inclusive economy,” said Anna Ivanova, the IMF’s mission chief for Ecuador.