Minister Simon Cueva says Ecuador will benefit from an additional $ 1 billion from SDR funding from the International Monetary Fund | News

Simon Quio, Minister of Economy and Finance; Explained At the first meeting of the Guillermo Lasso government with the Managing Director of the International Monetary Fund (IMF) Crystalina Giorgio Made yesterday via Telematics, Agreed to advance in technical negotiations regarding the agreement with the International Monetary Fund. In them, changes and alterations will be made to the Contract and conditions for reviews and subsequent discounts will be established.

More than the loans associated with the financial contract, Ecuador could benefit from the International Monetary Fund’s initiative to grant special drawing rights (SDRs). These are a type of IMF currency, made of a basket of coins. If this process occurs, the country can receive And 1 billion.

In this regard, Jaime Carrera, Executive Secretary of the Monetary Policy Laboratory (OPF), explained that these resources from the SDR would be a gift from the International Monetary Fund to support member states not only in Ecuador but also in the midst of the epidemic crisis. . In the case of Ecuador, 1,000 million is equivalent to that.

After the meeting, Georgieva wrote On his Twitter account: “Best first call with President Laszlo Guillermo today on his ambition to accelerate vaccination, strengthen the economy and serve the needs of the most vulnerable people. We look forward to working with you in support of #Ecuador and our face-to-face meeting! ”

In this regard, he noted that the conversation with the Managing Director of the International Monetary Fund, Crystalina Georgieva, was friendly and helpful, and that he was interested in maintaining good relations on both sides. This allows the country to access funding from the international community and support government programs.

Meetings with IDB

President Lasso also met with the IDP leader, Mauricio Clover-Coron, Issues related to financial cooperation and other social areas were discussed. Kwa confirmed that Clover has already announced that IDP will provide $ 1 billion in funding to Ecuador by 2021.

Clover-Caron, who is in the country on his first official visit this year, met with Assembly Speaker Guadeloupe Lori on Thursday.

That same afternoon, he was there when he signed A letter between the American University (UDLA) and the US-American Development Bank (IDB). The agreement seeks to deepen cooperation between the two organizations to develop and promote plans and programs for the training of human capital in Ecuador through the AcademiaPIT initiative. UDLA is the first university in Latin America and the Caribbean to join the #AcademiaBID initiative (https://academiabid.iadb.org), A digital learning platform that seeks to promote sustainable development in the region through capacity building through open knowledge.

Meanwhile, today, the President IDP met with entrepreneurs backed by IDP Labs’ Invention Lab, IDP Lab. Support from IDP Laboratory is the basis for integrating Impacto Laboratory; Accelerated with Google’s endorsement of startups with 230 entrepreneurs from seven countries, the project has achieved $ 65 million in sales and more than $ 6 million in capital raised by startups. (I)