China loans and oil prices boost Ecuador economy two years after default

Sunday, June 26th 2011 - 02:46 UTC

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Ecuador’s bonds are rewarding investors with the best performance in Latin America as Chinese loans and higher oil prices boost confidence in the economy two years after the country defaulted on 3.2 billion US dollars in debt. Read full article

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SusanM
Ecuador’s Finance Ministry, which forecast a $3.73 billion budget deficit in its 2011 spending plan, said in October that outlays this year were “covered.” Ecuador, the smallest member of the Organization of Petroleum Exporting Countries, this week raised its Oriente oil price forecast by 25 percent to $91.30 per barrel from the $73.30 estimated in the 2011 budget presented to Congress in October. Oil provides the government with 24 percent of revenue, according to the Finance Ministry.
http://cashadvancesus.com/fed-releases-loan-data/
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