Weekly Report - 3 May 2007

ECUADOR | Debt policy. Ecuador will reduce foreign debt payments by 33% to US$2bn in 2008 compared with the US$2.7bn assigned to debt payments this year, the economy minister, Ricardo Patiño, announced last week. Patiño said this was due in part to debt servicing being lower next year but also to the government's financial policy. He said the government was still investigating loans negotiated in what he considered an irregular fashion in 2000. He labelled this "illegal" debt. 

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