8/18/09 - Financial Times Blog - China wants oil, Ecuador wants money… – The Amazon Post

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8/18/09 – Financial Times Blog – China wants oil, Ecuador wants money…

Date: Aug 18, 2009

[archive-title]“China wants oil, Ecuador wants money…
Financial Times Blog, August 18, 2009
[/archive-title]
“But critics argue the country’s problems go back further than this, blaming the leftist government, led by Rafael Correa, for over-ambitious social spending that was only sustained by the commodities boom. Either way, a default on $3.2bn worth of foreign debt last year has somewhat limited the country’s options. Ecuador argues the loans, undertaken by a previous government, were illegitimate, but this has left it seeking help from places other than the international bond markets.”
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