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LatinNews Regional Monitor: Andean Group - 19 June 2019

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In brief: Ecuador

* Ecuador’s economy & finance ministry has announced that Ecuador’s external debt has been reduced by US$50m. This follows the announcement the previous week that the government was launching an offer to buy back its 2020 bond in a liability management operation that will be financed with the issuance of a new bond maturing in 2029. In a press release, Economy & Finance Minister Richard Martínez said the government had repurchased US$1.175bn in 2020 bonds, helped by the placement of US$1.125bn of 2029 bonds last week. The press release also commented that resources which were previously used to repay the debt can now be used to finance social projects.