Archive for the ‘Ecuador’ Category

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

Monday, December 15, 2008 21:23 No Comments

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.

This was posted under category: Bonds, Default, Ecuador Tags: , , , , , , , ,

Ecuador Defaults!

Friday, December 12, 2008 21:16 3 Comments

Ecuadorean President Rafael Correa officially announced that he will not be making the interest payments on his foreign bonds. The country has officially defaulted on its debt obligations. This is the second Ecuadorian default in ten years.
“I have given the order that interest payments not be made,” Correa said. “The country is in default.”
Correa went [...]

This was posted under category: Bonds, Credit, Default, Economy, Ecuador, Emerging Markets Tags: , , , , , , , , , , , , , ,
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