Ecuador completes debt restructuring with bond delivery- Rappler
Ecuador has finalized the delivery of $15.5 billion of bonds to its creditors following a debt restructure plan, the finance ministry said on Monday, August 31.
The plan agreed earlier this month meant the South American country’s debt was slashed by more than $1.5 billion with a reduction in interest rates too.
“Under the Ecuadoran restructure, approximately 98.5% of the remaining amount was exchanged for 3 new bonds totaling $15.5634 billion,” the ministry said in a statement.
To read the full article on Rappler, click here.