EEUU leases an agreement with Ecuador of USD 3,500 million to help “get rid of China’s trampling”

Ecuador has signed an agreement with the International Finance Corporation for the United States Development Fund (DFC, by its seal in English) which allows for up to 3,500 million dollars to replace its external debt and reactivate the productive sector, dijo el jueves president Lenín Moreno. The process of canceling a part of the public debt Includes credit obligations with China.

Ecuador’s debt with China resembles Rafael Correa’s death in power, the governing body pays the sovereign debt of the country in 2008. I read the letter to the Washington Presbyterian Institutions and agreed on a series of petroleum agreements to presume in China, which all are pagan.

Moreno has criticized the agreements with China over his actions and judgments against the country. His governor has renegotiated the terms of the debt and this year secured $ 2,000 million in new money from a Chinese bank.

Adam Boehler, Executive Director of the EUSR Development Bank, qualified the agreement of “modern model” to expel China from the Latin American nation.

One of the main conditions of the agreement with Ecuador is that Quito firme lo that the Trump administration called “The Red Limpia” – an initiative of the State Department designed to ensure that nations exclude Chinese telecommunications services and the equipment providers have built their high speed 5G drives.

The Trump administration hopes that the agreement will propose a plant that anime has other nations to despise China’s debt and eliminate Chinese telecommunications companies from its speeches.

“It’s a novelty that really combines many DFC missions. The first is that we will impact the development in Ecuador in a very positive way, ”Boehler told the Financial Times. ‘The DFC believes that no authoritarian country has an influential influence over other countries and we are dealing with this factor with this agreement. ”

In an earlier interview with the FT, Boehler said that the DFC did not take the initiative in foreign policy matters, but was aware of the fact that China was establishing itself all over the world and the need for the EU to “play offensive” . Dijo que Chinese inversions have been converted into a “drug” for countries that have taken steps of death.

The problems of liquidity of the Andean countries are aggravated by the coronavirus pandemic, which obliges Gobierno to renounce the past due to sovereign debt and seek new credits with the International Monetary Fund and other multilateral. “The agreement is for the revenue of up to 3,500 million dollars to prepare the currency and reactivate the productive sector”, said Moreno in a virtual press conference.

It is agreed that it will be able to “monetize” assets, including projects that are licensed to private investors in the petroleum, telecommunications and hydroelectric sectors to obtain major resources and injectors in the productive sector.

Conditions of recourse will be 8 years place and 2.48% of annual interest rate and Iran related agreement to the projects that link the land in carpet, dijo Pozo.

Ecuador’s public debt is estimated at 60,000 million dollars, equivalent to 62.1% of gross domestic product (GDP) in the country in November 2020, according to official data.

The DFC dijo que el marco ayudaría ‘n Ecuador’ n salir “From a cycle of trampling on debt to the benefit of its economy and its people through a new development and new jobs”. But it should be borne in mind that all the money in proportion to the value required requires the full diligence and approval of the DFC.

The agreement with the United States subscribes to some months since Moreno left the cargo on 24 May, some more than three months after the Ecuadorians met on the 7th of February. The Gobierno says that the change of authorities in the United States as well as in Ecuador will not affect the development of the market agreement between nations.

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