Ecuador to delay coupon payments amid health service strains

Ecuador, Cotopaxi, volcano, LatAm
By Oliver West
24 Mar 2020

Ecuador will make a $325m bond maturity payment on Tuesday as it looks to unlock $2bn of further funding that the finance minister will be “immediately” accessible. But the sovereign will delay $245m in coupon payments later this week, and the minister did not confirm that these payments would be made when the new loans arrive.

Arguing that Ecuador required “relief” on debt payments to tackle the Covid-19 pandemic at the same time that it needed to “guarantee and maintain access to financing sources”, finance minister Richard Martínez confirmed on a Facebook live feed on Monday evening that he would keep his word and ...

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