QUITO (Reuters) – Ecuador in April repaid $1 billion of loans made two years earlier by Goldman Sachs
The loans on the time allowed Ecuador to advance in a course of to renegotiate its international debt.
Their compensation comes as President Lenin Moreno’s authorities faces a brand new debt disaster because of the collapse of world oil costs and an financial slowdown triggered by the coronavirus, of which Ecuador has suffered certainly one of Latin America’s worst outbreaks.
The ministry, in a press release, mentioned it had put aside funds final 12 months to repay the loans.
(Reporting by Alexandra Valencia; Writing by Angus Berwick; Enhancing by Marguerita Choy)