April 14, 2021 |
Ecuador's sovereign bond prices leapt on Monday after career banker Guillermo Lasso unexpectedly defeated the leftist candidate Andrés Arauz in presidential elections on Sunday.
Lasso won 52% of the votes in a run-off election as voters opposed to Arauz's Citizen Revolution Movement, led by former President Rafael Correa, joined forces at the polls. Lasso won 19.7% to Arauz's 32.7% in the first round in February.
Ecuador's bonds rallied in the aftermath, reflecting relief in the market, as t
Investors express relief but voice concern over Lasso's ability to face down opposition in the National Assembly