Ecuador to miss payments amid spending pressure

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Ecuador to miss payments amid spending pressure

Ecuador, Lenin Moreno, president, restructuring, grace period, default
President of Ecuador Lenin Moreno hold a conversation on Ecuador's political and economic priorities and the US-Ecuador relationship, today on February 13, 2020 at the Atlantic Council in Washington DC, USA. (Photo by Lenin Nolly/Sipa USA) | Lenin Nolly/SIPA USA/PA Images

Distressed South American sovereign Ecuador faces a tall task to renegotiate its debt payment schedule in time to avoid a hard default, said market participants, after it delayed around $200m of coupons this week, taking advantage of a 30 day grace period.

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