Sovereign Analysis /

ECUADOR: Eat, Sleep, Rave, Reschedule

    Stuart Culverhouse
    Stuart Culverhouse

    Chief Economist & Head of Fixed Income Research

    Tellimer Research
    4 April 2018
    Published byTellimer Research
    It looks like Ecuador is set to become the latest country to seek to renegotiate bilateral loan terms with China, according to Bloomberg reports yesterday citing new Minister of Economy and Finance, Maria Elsa Viteri. It follows the presentation of the President’s economic plan on 2 April that said it will seek a review of loan terms from creditors. If so, we count Ecuador as the second country to go down this route this year; and to many, it might just be confirmation of the inevitable. Zambia announced a similar move on its Chinese debt on 13 February. China must be wondering what it got itself into.