Ecuador Debt Talk Rattles Markets

Ecuador Debt Talk Rattles Markets

Andean

The negative rhetoric continues in Ecuador, with hints from Correa that some of the debt may still be deemed illegitimate. Analysts expect noise to pick up during the election. “If Correa’s political support declines, he might adopt a more radical stance and threaten to restructure the external bonds,” says Credit Suisse. Meanwhile, UBS notes that the weekend referendum result in favor of a new constitution is a negative for investors. “Lots of spending is set to be added if all the new constitu

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