TITLE

First Review Approved

PUB. DATE
September 2003
SOURCE
Latin America Monitor: Andean Group Monitor;Sep2003, Vol. 20 Issue 9, p7
SOURCE TYPE
Country Report
DOC. TYPE
Country Report
ABSTRACT
The International Monetary Fund's decision to approve the first review of Ecuador's US $205 million loan agreement in early August, 2003 was a rare piece of good news for beleaguered President Lucio Guti�rrez. A US $42.0 million tranche can now be disbursed, easing financing concerns over the next two months. However, as economic research firm Business Monitor International Ltd. has previously warned, the September review will prove yet more problematic, as the government must pass controversial civil service reforms by this point. Guti�rrez's position looks set to deteriorate still further over the coming months, with coalition partner Pachakutik, the political wing of the Confederation of Indigenous Nationalities of Ecuador CONAIE, having recently threatened to withdraw from the government for the third time this year. The loss of Pachakutik's five seats would bring the government's total down to 12 seats in the 100-seat legislature�hardly an encouraging figure for a president committed to pursuing an unpopular reform program.
ACCESSION #
10645947

 

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