Ecuadorean President Guillermo Lasso has turned to multilateral organisations for financing to reactivate the pandemic-hit economy, and renegotiated a US$6.5 billion credit agreement with the IMF, which ends this year. Photo: Shutterstock Images
Ecuador reaches deal with Chinese banks to restructure debt, providing US$1.4 billion relief until 2025
- President Guillermo Lasso previously announced he sought to restructure debt and improve conditions of long-term oil sales contracts with Beijing
- Ecuador also managed to reduce certain applicable interest rates and suspend all amortisations with China Eximbank for a six-month grace period
Ecuadorean President Guillermo Lasso has turned to multilateral organisations for financing to reactivate the pandemic-hit economy, and renegotiated a US$6.5 billion credit agreement with the IMF, which ends this year. Photo: Shutterstock Images
