Ecuador sees a return to capital markets in an orderly manner: economy minister

 Ecuador sees a return to capital markets in an orderly manner: economy minister

QUITO, Nov 5 (Reuters) – Ecuador will seek to return to the international capital market and is working to regain its credibility after restructuring its sovereign bonds, Economy and Finance Minister Simon Cueva said on Friday.

Last year, the country managed to restructure some $17.4 billion by exchanging about 10 outstanding papers for three new bonds maturing in 2030, 2035 and 2040 and improving interest rates.

After the exchange, Ecuador has not issued new debt to obtain financing despite its liquidity problems, exacerbated by the pandemic.

“Ecuador has a vocation to gradually return to the international capital markets,” Cueva told reporters. “But do it in an orderly and predictable way.”

“Ecuador has a not-so-good history in international markets with many stories of default, restructuring, and changes, and we want to build a serious, credible country abroad,” he added.

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