IMF board concludes reviews for Ecuador, unlocking $1 billion

Reuters: –

The International Monetary Fund executive board said Friday it had concluded its fourth and fifth reviews for Ecuador’s 27-month Extended Fund Facility (EFF), allowing for the immediate disbursement of about $1 billion.

The board said Ecuadorian authorities planned to use the funds for budget support.

The announcement comes after nearly two weeks of sometimes-violent mass protests led by indigenous groups demanding lower fuel and food prices.