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Ecuador Slides Towards Restructuring

Nov 21, 2008

Ecuador’s government will decide what action to take regarding its “illegal” debt, as the release Thursday of special debt audit commission’s report should be followed by recommendations for action in early December. The global bonds due 2012 and 2030 “show serious signs of illegality,” the report says, alleging no government authorization for issuance and no transparency during negotiations. The commission makes no recommendation as to what...

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There is performance risk that the market is going to have to evaluate and assess. I think that is very healthy for the market because that will enable us to finance a much wider range of projects.

Luis Fernando Andrade, Colombian National Infrastructure Agency


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