News Brief: Ecuador Signs Letter of Intent with IMF

September 30, 1999

Ecuador Signs Letter of Intent with IMF

The International Monetary Fund (IMF) has confirmed that the Ecuadoran authorities have presented a Letter of Intent requesting financial assistance under a stand-by credit and outlining their economic program through end-2000. IMF Management also confirmed that it would recommend approval of the request to the Executive Board once agreed policy measures have been implemented and provided Ecuador is making good faith efforts to reach a collaborative agreement with its creditors.


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