IMF Prepares Ecuador Credit Line as Government Starts Debt Talks
- Ecuador officials beginning bondholder talks this week
- IMF is already aiding Ecuador through a rapid finance loan
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The International Monetary Fund is preparing a new credit line for Ecuador as the nation faces a selloff in crude oil and one of Latin America’s worst Covid-19 outbreaks, according to people familiar with the matter.
The Washington-based lender is discussing a loan of about $250 million as part of the South American nation’s rapid financing instrument, as well as further funding through a successor accord, said the people, who requested anonymity because the talks are private.