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Ecuadorian companies see benefits for renegotiation of external debt- Ecuador Times

Date: Jul 9, 2020

Companies, banks and exporters anticipate that the renegotiation plan proposed by the Government to bondholders will have positive effects on their activity.

The Ministry of Finance announced on Monday that the debt restructuring will allow the maturities of these papers to be extended until 2040. Today, these bonds are due in 2030.

Annual capital payments will also be reduced. For example, debt service in 2021 falls from USD 1,593 million to 76 million.

The interest rate decreases from 9.2 to 5.3% on average and the principal by USD 1,540 million.

To read the full article on Ecuador Times, click here.