The Minister of Economy and Finance, Pablo Arosemenamet this Thursday, August 7, 2022 with Boris Weber, World Bank representative in Ecuador. The purpose of the meeting was strengthen links of cooperation for the development of programs and projects that continue promoting the reactivation of the country.
After the meeting, Weber thanked the minister through social networks for sharing the vision of this portfolio with a “focus on efficiency and results (which) is a great contribution to the country”. He also indicated that from the World Bank reiterates its commitment as a strategic ally to continue working on the reactivation of Ecuador.
This is the second meeting that Minister Arosemena has held with representatives of multilateral organizations, which are the entities that currently finance the country in the most important way.
On Wednesday, Arosemena met with representatives of the International Monetary Fund (IMF), in a formal appointment.
Ecuador has managed to access financing from these multilaterals (with long terms and low rates) thanks to an agreement signed by the Lenín Moreno’s regime and that was ratified in the present Government with the now ex-minister Simón Cueva. Thus, recently Ecuador was able to access $1 billion from the IMF, and still expects to receive an additional $700 million. In total, multilaterals are expected to receive this year about $4.5 billion.
The Minister of Finance will have to face the management of this State portfolio that presents important challenges, among them, meeting a series of requirements of social and political groups, but with limited resources and also a limited capacity for indebtedness.
Additionally, the minister faces a critical of low taxes paid in 2021 ($36.63). Several sectors have asked him to make his income tax returns public. Not only Arosemena has been the target of criticism: several of the newly appointed government officials have had comments.
On the subject, the Minister of Government, Francisco Jiménez, in an interview with Teleamazonas said that these types of topics are inconvenient, but that all officials they should put the house in order to continue advancing with the tasks that are pending. (YO)
Source: Eluniverso
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