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Ecuador to Gain Little from Default

Nov 17, 2008

Rafael Correa’s government has little to gain by missing a $31m interest payment on 2012 dollar bonds due this past weekend, analysts say. The government announced Friday that it would skip the payment and use the 30-day grace period to decide whether to honor the...

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The most pressing issue is related to guaranteeing this growth of the system, the savings. We have to guarantee that this growth is followed by better asset managers on the side of the Afores.

Carlos Ramírez, Mexico’s pension regulator, Consar


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