The World Bank could signal as early as Friday that it is in effect suspending $400m in loans to Ecuador, in response to the country's restructuring of an oil stabilisation fund.

The bank has made no official response, but is preparing a reply to a letter sent this week by Rafael Correa, Ecuador's finance minister, to Paul Wolfowitz, head of the bank, demanding to know why Mr Correa was left empty-handed last week in Washington, where he had expected to receive a $100m (€81m, £56m) loan as part of the bank's fiscal support programme for Ecuador.