Latin America News
LAST UPDATE: June 12, 2025
IMF, Ecuador reach agreement on proposed augmentation of $1 billion
The IMF reached a staff‐level agreement to increase Ecuador’s financing under its program from $4 billion to $5 billion. Board approval is pending before the second review disbursement is released.
Insight
The augmentation reinforces IMF confidence in Ecuador’s reform programme and fiscal resilience, offering crucial buffer amid global economic uncertainty, while laying groundwork for inclusive development goals.
Trump’s Canada Envoy Signals Possible Trade Breakthrough at G‑7 Summit
U.S. Ambassador to Canada, Pete Hoekstra, indicated during a luncheon in Ottawa that President Trump and Prime Minister Mark Carney may achieve a significant trade agreement at the upcoming G‑7 summit in Alberta. He noted both leaders see the summit as an “inflection point” and questioned why a deal wouldn’t be announced if talks are productive.
Insight
Hoekstra’s remarks suggest heightened expectations and diplomatic momentum for a breakthrough. The emphasis on the summit as a pivotal moment underscores the administration’s strategic push to leverage multilateral venues for bilateral gains.
