Ecuador International Reserves set a historic record of 7,377 million dollars the past 23 December, informs este lunes el Banco Central del país andino.
Treated by the mayor level leveled in the last two years, since the initiation of the dollarization in the country, it contributes to guaranteeing the deposits of citizens, public and private agents, as well as resources for the management and execution of works of different levels of government, indicating.
However As of December 22, international reserves are at levels of $ 5,347 million, in addition to the countries receiving the second December December of 2,030 million dollars, in the mark of agreement on the Service Ampliado con el Fondo Monetario Internacional (FMI).
As such, the international financial community “demonstrates its support for the actions implemented by the Equatorial Government to maintain orderly management of public finances”, according to a statement.
It is added that these resources “generate confidence in the economy and contribute to the improvement of the dollar, the reactivation of the productive apparatus and the increase in the coverage of social assistance programs”.
DECEMBER OF THE FMI
Last December 23rd, in Ecuador, the second of December, 2,000 million dollars were approved by the IMF.
The collection of these resources is produced after the approval of the FMI Directorate and the first revision of meta-programs with the United States of America, “as quantitative as indicative, from the July quarter to September 2020, a total of mismas “, according to a statement from Finanzas.
The Minister of Economy and Finance, Mauricio Pozo, commented that “the destination of international agreements (…) is to host guests with health, education and social protection”.
And aggregate that the recourse recovered will also serve “to reduce taxes that have the tax burden with providers, Decentralized Autonomous Governments and other entities related to the General Prosecutor of the State”.
The ability to execute paid loans to suppliers and local governments will allow “injecting liquidity into the economy, and supporting its reactivation”.
For the sake of compliments, Ecuador has stated that it will implement legislation to combat corruption, between which the Anti-Corruption Act approves this by the National Assembly (Parliament).
In this capacity, the Governor of Ecuador works in addition to the General Audit of the State to increase the publication and availability of detailed information on the patrimonial declarations of public employees with high loads.
The credit agreement payment is due 10 years from now, with a grace period and a 2.9 interest rate per cent.
With this party, Ecuador has received this pandemic year 7,000 million dollars from the multilateral organisms, even if only at the end of the year 260 million from the Bank of Latin America-CAF.
The objective with all these precedents is the fiscal aggression provoked by the alleged death of the previous governors and the devastating consequences of the pandemic.
Only this month, the country has received 514 million from the World Bank, 261 million from the Inter-American Bank of Development (BID) and 138 million from the CAF.
Last September 30, the Directorate of the IMF approved an agreement in the mark of the IMF Implemented Service (EFF, by its English clauses) in order to accrue, in an exceptional manner, $ 6,500 million.
Of those, 4,000 million to receive in 2020, 1,500 million in 2021 and 1,000 million in 2022.