April 30, 2020 / 8:35 PM / 24 days ago

IMF poised to approve over $500 mln in pandemic aid for Ecuador

WASHINGTON, April 30 (Reuters) - The International Monetary Fund’s executive board is scheduled on Friday to consider Ecuador’s request for $500 million in emergency financing to combat the coronavirus pandemic, according to the IMF’s website, a sign that approval is imminent.

Setting a firm date for board consideration usually indicates that the proposal is slated for approval, according to sources familiar with the process.

Ecuadoran Finance Minister Richard Martinez last month said the cash-strapped Andean nation had reached a deal with the IMF for $500 million in financing. IMF officials this month said they were working to process the request as soon as possible. (Reporting by Andrea Shalal; Editing by Sandra Maler)

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