Ecuador and the International Monetary Fund (IMF) staff have reached an agreement on a set of policies to underpin a US$4.2 billion (435% of quota and SDR3.035 billion) arrangement under the IMF’s Extended Fund Facility (EFF). This arrangement, which is subject to IMF Executive Board approval, would provide support for the Ecuadorian government’s economic policies over the next three years.
Ecuador may use financing from the International Monetary Fund (IMF) to balance its budget, as the South American country seeks to reduce a swollen fiscal deficit and its international debt, the finance minister admitted on Friday.
The Guayaquil-born Otto Sonnenholzner Sper took office on Tuesday as Vice-president of Ecuador, after being chosen by the National Assembly from a shortlist put forward by President Lenin Moreno.
Ecuador plans to renegotiate the terms of its debt to China, President Lenin Moreno said ahead of a trip to Beijing, adding that a deal with the International Monetary Fund (IMF) for additional financing was possible.
After the United Kingdom has guaranteed that the founder of Wikileaks will not be extradited to the US, President Lenín Moreno invited Julian Assange to leave Ecuador's embassy in London, because his time of asylum in the diplomatic building after six years is about to run out.
Ecuador's Vice President Maria Vicuna announced her resignation on Tuesday, one day after President Lenin Moreno relieved her of duties amid an investigation into payments she received as a legislator years ago.
“Julian Assange launched a case Friday accusing the government of Ecuador of violating his fundamental rights and freedoms,” read a WikiLeaks statement. The case has been slated to be heard in a domestic court next week.
The government of President Lenin Moreno Thursday expelled Venezuela's ambassador in Quito and the Nicolás Maduro regime hit back by ordering the Ecuadorian chargé d'affairs out of Caracas. Ambassador Carol Delgado was sent back to Venezuela and Ecuador's Elizabeth Mendez was ordered to leave Caracas.
Ecuador has said its president will not discuss the future of Julian Assange during a visit to the UK. Lenin Moreno was scheduled to speak in London and later travel to Scotland to the University of Edinburgh. He will also address businessmen interested in investing in Ecuador.
U.S. Vice President Mike Pence urged Latin American countries to help isolate crisis-stricken Venezuela, an ideological adversary of Washington that is struggling under a severe and prolonged economic crisis.