Ecuador Gets $643 Million Loan From IMF To Fight Coronavirus

Ecuador Gets $643 Million Loan From IMF To Fight Coronavirus

Ecuador gets $643 million loan from IMF to fight Coronavirus. Ecuador had made a request to the International Monetary Fund (IMF), for emergency funding, to enable them to fight the Novel Coronavirus pandemic.

The economy ministry of the country announced on Friday, that the International Monetary Fund had granted their request.

The International Monetary Fund loan is for a period of 5 years and it has an interest rate of 1.05%.

In Latin America, Ecuador is the country that has been hit the worst by COVID-19. At the time of writing this, around 1,000 deaths and about 25,000 infections have been reported in the country.

Because of the Coronavirus pandemic, bodies are lying in the streets of Guayaquil, the largest city of Ecuador.

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