Ecuador's Moreno praises world financial institutions at UN

Ecuadorian President Lenín Moreno on Wednesday praised the work of multilateral institutions in helping his country withstand the financial blow caused by the coronavirus pandemic.

He told the U.N. General Assembly that aid from organizations including the International Monetary Fund have been key for developing countries.

Ecuador and the IMF recently reached a staff-level agreement on a 27-month $6.5 billion fund to help the nation expand social assistance programs.

Ecuador has been hit harder financially than most Latin American countries, with its economy is projected to contract 9% this year.

The country has reported more than 11,100 deaths from the virus.

During his speech, Moreno called for any vaccine to be patent-free.

He also highlighted the need to protect vulnerable areas like the Galapagos Islands, the UNESCO World Heritage site that inspired Charles Darwin.

Alluding to a recent flotilla of 260 mostly Chinese fishing vessels near the archipelago, he called on countries to denounce illegal fishing.

The fleet was in international waters but close enough raise worries about sharks, manta rays and other vulnerable species nearby.

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