QUITO -(Dow Jones)- Ecuador is seeking some $1.5 billion in credits from multilateral lenders to cover financial needs during 2009, Minister of Economic Policy Coordination Diego Borja said Thursday.
At a news conference, Borja said a $480 million loan from the Latin American Reserve Fund, or FLAR, will be disbursed in April.
The government is also awaiting $500 million from the Inter-American Development Bank, or IDB, and another $500 million from the Andean Development Corporation.
Borja and Finance Minister Maria Elsa Viteri were in Washington early this week to speed up the IDB loan.
"The visit was very effective," Borja said.
According to Borja, a first disbursement from the IDB will be ready in the first quarter.
International Monetary Fund officials were present at the meeting with the IDB, but Borja said the government "won't accept an economic review from the International Monetary Fund."
"We are a sovereign country," he said.

-By Mercedes Alvaro, Dow Jones Newswires; 5939-9728-653; mercedes.alvaro@dowjones.com

(END) Dow Jones Newswires
02-12-09 1226ET
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