Update on debt and liquidity

ECUADOR - In Brief 24 Oct 2017 by Magdalena Barreiro
In the last 10 days, $3,200 million of new financing has reliefed the liquidity crisis of the public system. From these, $2,500 million of 10-year new bonds at 8.875% and an operation for $500 with Goldman Sachs with 35 months of maturity and at Libor + 4.75% will help the Ministry of Finance to cover the budget and expand capital expenditure in these two last months. The remaining $200 million coming from a gold operation conducted by the Central Bank will help to marginally improve the liquid position from the international reserves. The RILD also improved with the incoming $500 million from the GS operation. Thus by Oct 20, 2017 RILD sum $2726 million and are up 32.9% from its position at the end of September.Total external debt amounts to $31,775 million and domestic debt sum $15,461 million for a total of $47,236 million (46.8% of GDP). Not included in this amount are $1064 million of oil facilities and $1417 million of short term paper (CETES).

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