Ecuador Defaults Again, Refuses to Pay Interest Payment on 2nd Bond

Monday, December 15, 2008 21:23
Posted in category Bonds, Default, Ecuador
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After only a few days since his countries default, Ecuadorian President Raphael Correa has again announced that he will not make the interest payment on a second bond. Ecuador is now in default of $60 million of interest payments. Correa, an American educated Economist, has declared the debt illegal.

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