One Step Closer To The Markets, One Step Farther From The Left
ECUADOR
- Report
27 Jun 2014
by Magdalena Barreiro
Executive SummaryThe controversial results –to say the least --of the last sectional elections of February 2014 paired with a tough fiscal situation brought back the pragmatic Correa to the surface once more. After taking a dig to the markets for the last seven years, he brought Ecuador back to Wall Street on June 17 with an issue of $2 billion, 7.95% coupon rate, and 10 years of maturity. Previously in May, Ecuador closed an operation with Goldman Sachs from which the Ministry of Finance received a loan of $400 million at 4.3% in exchange for around $600 million of gold reserves which will...
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