by Amruth Sundarkumar | Oct 18, 2022 | Sovereign Bonds, Sovereigns
Dollar bonds of Ecuador were higher by over 2-5 points on news that the government may buyback its bonds. The news comes after Finance minister Pablo Arosemena said last week in a private event that the nation may fund a buyback of some of its outstanding debt by...
by Amruth Sundarkumar | Sep 21, 2022 | Sovereign Bonds, Sovereigns
Ecuador’s has reached a debt restructuring deal with China regarding $4.4bn of its outstanding debt. This would save the country about $1.4bn in cashflows until 2025. In February, Ecuador’s President Guillermo Lasso indicated that he was looking to...
by Amruth Sundarkumar | Jun 27, 2022 | Sovereigns
IMF approved $1bn in immediate disbursements for Ecuador under its 27-month Extended Fund Facility (EFF) after concluding its fourth and fifth reviews last week. These funds will be used for budget support. For the past two weeks, protests by indigenous groups have...
by Amruth Sundarkumar | Jun 20, 2022 | Sovereign Bonds, Sovereigns
Ecuador’s dollar bonds have fallen over 10-12% in the past week as protests by indigenous groups have erupted. In 2020, the country defaulted on debt and faced a similar political chaos. These groups are demanding more energy subsidies and price controls of basic...
by Amruth Sundarkumar | May 12, 2022 | Sovereign Bonds, Sovereigns
Ecuador and the IMF reached a staff-level agreement regarding the economic policies required to conclude reviews of its 27-month Extended Fund Facility arrangement-supported program. Once the review is complete, Ecuador will have access to financing worth ~$1bn, which...
