Ecuador central bank doubles BIS credit line

Central Bank of Ecuador museum
Rachael King

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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