End of preview - This article contains approximately 135 words.
Subscribers: Log in now to read the full article
Not a Subscriber?
Choose from one of the following options
Back
LatinNews Daily - 24 August 2020
In brief: Chinese official defends credit deal with Ecuador
* The commercial advisor to the Chinese embassy in Ecuador, Chen Feng, has rejected criticism of the terms of Chinese loans to the Ecuadorean government, claiming “neither the government of China nor its financial institutions have ever forced Ecuador to receive any credit, it has all been at Ecuador’s request”. Speaking to national daily, El Universo, Chen was asked about the deal (agreed in May) through which the state-run China Development Bank (CDB) will pay Ecuador US$2.4bn as advance payments in a long-term oil export contract; Chen emphasised that this was a standard commercial deal, and that “China’s loans never have political strings attached”. He added that talks are continuing between CDB and the goverment led by President Lenín Moreno over the possibility of a further loan, to help bridge Ecuador’s substantial fiscal gap.
- MEXICO: Covid-19 situation becomes “catastrophic”
- COLOMBIA: Duque denies escalation of violence
- In brief: Chinese official defends credit deal with Ecuador
- BRAZIL: Press freedom concerns after Bolsonaro attacks journalist
- In brief: Brazil sees positive job creation in July
- JAMAICA: Holness suspends traditional campaigning ahead of election
- In brief: Honduras’s economic activity contracts in first half of 2020
- In brief: Mexico’s Aeroméxico secures DIP financing
- PARAGUAY: Pandemic response undermined by resignation in health ministry
- In brief: Latest employment figures point to signs of recovery in Uruguay
- Panama and US agree to create joint anti-money laundering task force