Ecuador, Philippines repay IMF debt (Bretton Woods Project)

Ecuador, Philippines repay IMF debt

Newly elected Ecuadorean president Rafael Correa, announced in January that he would make early repayments of his country’s $33 million debt to the IMF. This decision came after months of speculation that Correa would declare a debt moratorium, including on the amounts outstanding to the Fund. Correa has turned to Argentina, rather than the IMF, for advice on renegotiating the terms of its external debt with private creditors, inviting an Argentine team to Quito for technical assistance. Despite a November IMF statement that the Philippines would not be repaying early, at the end of the year the governor of the central bank announced the prepayment of $220 million that was due in April 2007.

Ecuador y Filipinas pagan sus deudas al FMI News|Bretton Woods Project|16 February 2007|update 54|url
El nuevo Presidente de Ecuador, Rafael Correa, anunció en enero del 2007 que hará abonos tempranos de la deuda de su país de $33 millones al FMI. read article...
Serbia pagó, ¿le sigue Turquía? News|Bretton Woods Project|19 April 2007|update 55|url
Serbia es el último de los países en haber cancelado su deuda del FMI antes de lo previsto. El 15 de marzo del 2007, el Banco Nacional de Serbia canceló los últimos $230 millones de la deuda, la cual no debería pagarse sino hasta el 2010. read article...
Just say no Vocal rejection of Bank, Fund increasing News|Bretton Woods Project|2 July 2007|update 56|url
Member countries are increasingly rebuffing World Bank and IMF programmes, advice and even membership, with Latin American nations withdrawing from the Bank's investment arbitration mechanism. read article...