Ecuador central bank doubles BIS credit line
Central bank to treat funds as precautionary to deal with a future downturn
The Central Bank of Ecuador has doubled its emergency credit line with the Bank for International Settlements, said governor Guillermo Avellan.
As a result of the increase, the line stands now at $840 million. The institution intends to treat these resources as precautionary to deal with a future economic downturn, said Avellan in an interview with Bloomberg.
The official said these resources will also serve to underpin the central bank’s independence, following years in which previous
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