looks like equador got their paycheck for turning over assange;
The International Monetary Fund on
Monday approved a $4.2-billion, three-year loan for Ecuador, part of a
broader aid package to help support the government’s economic reform
program.
The Washington-based lender agreed to
the terms of the financing late last month, and the final approval of
the IMF board on Monday releases the first installment of $652-million.
IMF Managing Director Christine Lagarde
said the aid will support the government’s efforts to shore up its
finances, including a wage “realignment,” gradual lowering of fuel
subsidies, and reduction of public debt.
“The savings generated by these
measures will allow for an increase in social assistance spending over
the course of the program,” Lagarde said in a statement, stressing that
“Protecting the poor and most vulnerable segments in society is a key
objective” of the program.
Quito is expected to receive another
$6-billion from the Development Bank of Latin America, the
Inter-American Development Bank, the World Bank and the Latin American
Reserve Fund.
“The Ecuadoran authorities are
implementing a comprehensive reform program aimed at modernizing the
economy and paving the way for strong, sustained, and equitable growth,”
Lagarde said.
IMF performs periodic reviews of its
loans to ensure governments are following through on its policy pledge
and then releases funds in installments..........http://www.thetruthseeker.co.uk/?p=186579
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