Correa Remarks Send Bond Prices Tumbling

Correa Remarks Send Bond Prices Tumbling

Argentina

Ecuador's president-elect Rafael Correa's comments to press in Argentina Thursday sent Ecuador's sovereign bond prices tumbling and the yield on the country's global 2012 bonds up to 13.8%. The spread on the country's dollar bonds widened to 637bp following the president's remarks. In response to a question on his nation's $10 billion foreign public debt, Correa reiterated his plan to restructure Ecuador's commercial, bilateral and multilateral debt, and said he hoped the process would be "amica

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