All material subject to strictly enforced copyright laws. © 2021 Euromoney Institutional Investor PLC group
Emerging MarketsEM LatAm

Ecuador austerity plan fails to put floor on bonds

Ecuador, Cotopaxi, volcano, LatAm

President Lenin Moreno’s announcement of austerity measures that could raise $2.25bn, as well as the possibility of cheaper bank loans, was not enough to stop Ecuador’s bonds plunging towards the 40 mark as oil prices fell further on Wednesday. But the sovereign is expected to make a $350m coupon payment on March 24 and some are seeing signs of encouragement in the government’s reaction.

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Take a Free Trial or Login
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree