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Ecuador Political News

Ecuador Bonds Hit Record Low Amid Latin America’s Month of Chaos- Bloomberg

Ecuador’s dollar bonds slumped to a record low Monday after Congress rejected a bill designed to narrow the budget deficit and pave the way for the disbursement of more loans from the International Monetary Fund.

The country’s dollar bonds maturing in 2028 declined for a ninth day — sinking more than 9 cents on the dollar to 77 cents in New York trading. The extra yield investors demand to hold Ecuador debt over U.S. Treasuries widened 253 basis points to 11.06 percentage points, according to J.P. Morgan indexes.

Across South American bonds have been pummelled this month as social unrest swept Bolivia and Chile, violent crime flared in Mexico and elections heralded the return of populism to Argentina. But it is Ecuador that is now leading the pack down as political pressures threaten to send the fiscal deficit rising out of control, with at least six of the country’s dollar sovereign bonds falling 10 cents or more on Monday.

To read the full article on Bloomberg, click here.



Disgraced Chevron Ecuador fraud attorney Steven Donziger’s biggest supporter is now being accused by the U.S. Government of anti-Semitism. Donziger’s list of allies gets more despicable by the day
“At no time while working on the #Ecuador Project did I see any data supporting a finding of groundwater contamination from [Texaco] operations away from the pits,” a scientist hired by #Ecuadorian plaintiffs testified. Full testimony here: AmazonPost photo
Falsified reporting of technical findings facilitated #Ecuador #fraud against Chevron, scientist for the #Ecuadorian plaintiffs testified: AmazonPost photo
Members of indigenous communities in the Amazon in Ecuador would like to know: What happened to the more than $20M reportedly raised on their behalf by now-disbarred NY lawyer Steven Donziger? #FollowtheMoney
#Factsmatter: An international arbitration panel found ‘no cogent evidence’ supporting #Ecuador’s claim that #Texaco failed to comply with terms of remediation in #Amazon.

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