Dow Jones – Ecuador Foreign Debt $14.07 Bln In April, Equal To 23% GDP
News about an increase in Ecuador’s government debt. This article discusses how Ecuador has had difficulty accessing foreign capital since President Rafael Correa defaulted on billions of dollars in foreign loans in 2009:
Ecuador’s total foreign debt in April was $14.07 billion, up 3% from $13.67 billion in the same month of 2010, the central bank said.
The amount is equivalent to 23% of Ecuador’s $62 billion gross domestic product forecast for 2011.