Ecuador announces intent to return to global financial markets, after default

Posted on May 16, 2014 • Filed under: Economy, Ecuador

reuters.com reported Ecuador’s announcement that it plans to return to global financial markets following a 2008 default has been met with strong interest by sovereign bond investors, the South American nation’s ambassador to the United States said on Thursday. “There is great appetite and strong demand … to buy Ecuadorean debt, there’s a lot of interest,” said Nathalie Cely, who has participated in meetings with investors, in an interview in Quito. Ecuador is considering issuing around $700 million, which would be its first since a $3.2 billion default on bonds that President Rafael Correa called “illegal and illegitimate.” Read Article

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