Connect with us

Hi, what are you looking for?

Ecuador Political News

Ecuador gets debt reprieve from China- Latin Finance

China Flag

Ecuador’s Finance Ministry said late Wednesday that it reached an agreement with China Development Bank (CDB) to postpone $417 million in loan payments for a year.

The country was originally scheduled to pay $167 million through the end of 2020 and $250 million from January to July 2021. Under the new agreement, Ecuador will pay the $417 million in 11 quarterly payments of close to $38 million each from the last quarter of 2021 until the second quarter of 2024, the ministry said in a press release.

The interest rate remains at 7.16%, as in the original credit line from April 2016, the ministry added.

To read the full article on Latin Finance, click here.

Archives

You May Also Like

Chevron Ecuador Blog Posts

1. Steven Donziger Is an Adjudicated Racketeer. The U.S. District...

News & Updates

Disbarred lawyer Steven Donziger likes to present himself to the...

News & Updates

A dishonest campaign is underway to rehabilitate disbarred lawyer Steven...

News & Updates

A Dutch appellate court has rejected Ecuador’s attempt to set...