IMF APPROVES 48 MLN DLR LOAN TO ASSIST ECUADOR
The International Monetary Fund said
it approved a 48 mln dlr loan to assist Ecuador in meeting its
foreign exchange needs following the earthquakes that struck in
March.
    The loan, which the IMF provides countries under special
circumstances, is equal to 25 pct of Ecuador's quota, or
economic standing, in the Fund.
    The IMF said that according to recent estimates, the
earthquakes will hurt the country's balance of payments this
year because of the loss of oil revenues due to destruction of
part of the oil pipeline.
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