* Ecuador’s economy & finance minister
Richard Martínez announced the successful placement of US$2bn in sovereign bonds on the international market. Of the US$2bn, US$600m will have an interest rate of 7.85%, maturing in 2025, while the remainder has a 9.50% interest rate with a maturity date of 2030. Martínez said the placement was 2.3-times over-subscribed and the resources obtained would go to state budget. The announcement comes the day after the government announced that
a staff-level agreement has been reached with the International Monetary Fund (IMF).
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