Ecuador sets example for EM restructurings, says creditor group

Ecuador, debt restructuring, Lenin Moreno, president, LatAm, 575
By Oliver West
08 Jul 2020

As private creditors continue to resist calls to participate in coordinated debt relief efforts, a group of Ecuador’s bondholders appeared to be insisting that another path was possible as they said the South American sovereign had set a positive precedent for other EM sovereign debt restructurings likely to follow in the Covid-19 era.

Ecuador’s so-called Ad Hoc Bondholder Group said on Tuesday evening — after coming to an agreement with the government on indicative restructuring terms — that it was “particularly gratified” that after a “collaborative and productive” negotiation, the two parties had arrived at a consensus in a matter ...

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