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Palacio: in need of fiscal discipline |
Ecuador is back in the World Bank’s good books after the multilateral signed off on a new $536 million, three-year programme. The money will be used to fund social projects as well as to help improve Ecuador’s fiscal position. About $90 million will be disbursed this year, $180 million next year and the rest in 2007. The money will be used for healthcare, community development and other social projects. Some cash will also be set aside to help manage the government’s budget.
The deal comes two months after a public spat between the two.
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