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Ecuador Political News

Bloomberg – Correa Weighs Bond From ‘Monsters’ as Ecuador Seeks Growth

Ecuador President Rafael Correa seeks to lure investors who are willing to finance projects in the country. In 2008 he referred to bondholders as “true monsters”:

Under Correa, Ecuador defaulted on $3.2 billion of bonds and required oil companies including Spain’s Repsol YPF SA and Italy’s Eni SpA to renegotiate contracts as part of his “21st century socialist” agenda.

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