"Ecuador has signed a $4.2bn programme with the IMF, signalling a final break by President Lenín Moreno with the policies of his leftist predecessor [Rafael Correa] in a deal that he said saved the country from becoming like Venezuela. The loan to the Opec country forms part of a larger $10bn package with other multilateral lenders to support Ecuador’s struggling economy, which is burdened by external debt that grew under former president Rafael Correa, in part due to oil-backed loans from China. Over the past two years, Mr Moreno has sought to reform the economy, while also distancing himself from the more controversial political positions of Mr Correa, who ruled Ecuador for a decade. The leftist firebrand, who faces multiple corruption charges in Ecuador and now lives in Belgium, was a close ally of socialist regimes such as Venezuela, Nicaragua, Cuba and Bolivia. Notoriously, he gave political asylum to WikiLeaks founder Julian Assange at the Ecuadorean embassy in London. The IMF deal comes on the seventh anniversary of Mr Assange’s asylum at the embassy. Ecuador’s extended fund facility with the IMF, which must still be approved by the Washington-based lender’s board...” said... the IMF mission chief to Ecuador."