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Ecuador Political News

Latin Business Chronicle – Ecuador: Correa’s Economic Legacy

The Latin Business Chronicle writes about Ecuador’s economic situation:

Access to financing, meanwhile, has declined after several policy mistakes. Above all, the politically motivated 2008 debt default and the country’s temporary blacklisting by the Financial Action Task Force, a global anti-money laundering body, thanks to foolish diplomacy, have elevated country risk. Strapped for cash, it has had to “contract new foreign debt under conditions that offer little in favor of the country,” as well as to cajole the Social Security Service into buying debt and investing in government-promoted infrastructure projects.

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