Don't Ignore Ecuador Default, Says AllianceBernstein

Don't Ignore Ecuador Default, Says AllianceBernstein

Corporate & Sovereign Strategy

Investors should not ignore the threat of default in Ecuador, says James Barrineau, head of research at AllianceBernstein, which has $7.5bn in EM debt, speaking Thursday at an EMTA panel. Comparing the sell-side to "an abused spouse" after Ecuador unexpectedly paid a bond coupon in February, Barrineau warns that even if a May payment is made, the fundamentals are still deteriorating. "[President] Correa has stopped beating us and gave us flowers, so everything is fine with the situation now," sa

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