TY  - SER
AU  - Moss, Nicholas
TI  - ECUADOR: BUDGET MOVES IMPROVE IMF CASE
KW  - ECUADOR FMI PRESUPUESTO NACIONAL
KW  - PRESUPUESTO NACIONAL - ECUADOR
KW  - FMI
KW  - 11
KW  - 3ext143
KW  - EC
N2  - The International Monetary Fund said on Friday that Ecuador was closer to securing a 400m stand-by loan after its Congress approved next year's budget late on Thursday. The most important element of the budget is that the fiscal deficit is within the limit of 2.5 per cent of gross domestic product set by the Fund. The IMF will analyse the figures and discuss Ecuador's programme in Washington before sending a mission back to Quito. The budget allocates 54 per cent of total spending to meet foreign debt obligations. Ecuador recently defaulted on its Brady and eurobond debt."It's a good step forward," said John Thornton, head of the IMF mission
ER  -