Andean Group - October 2012 (ISSN 1741-4466)

“Ecuador is one of the Latin American countries that receives most financing from China”, President Rafael Correa said during a visit to Quito by China’s commerce minister, Chen Deming, in late September. Deming came at the head of a delegation of businessmen who Correa encouraged to embrace new investment projects to spur Ecuador’s development. The Correa administration has sealed US$7.25bn of loans from China since 2009 as its access to credit lines dried up in the wake of a ‘selective default’ the previous year.

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