Ecuador will extend the deadline for creditors to vote on its US$ 17.4 billion debt restructuring plan to Monday following a lawsuit by a small group of bondholders, the finance ministry said on Thursday.Add your comment!
Ecuador is on alert due to the appearance of a huge fleet of mostly Chinese-flagged fishing vessels off its Galapagos Islands. Patrols are trying to ensure the fleet - which is made up of around 260 vessels - does not enter the delicate eco-system from international waters.Add your comment!
Ecuador unveiled new, tighter regulations for the design and construction of mining waste dams, seeking to avoid disasters like the tailings dam collapse that killed hundreds at a Vale site in Brazil last year.
The situation in the Ecuadoran capital Quito is critical due to the coronavirus epidemic Health Minister Juan Carlos Zevallos warned. Between April and July, public hospitals in Quito - home to 2.78 million - expanded their intensive care units from 61 to 162, Zevallos said in a nightly interview with the Teleamazonas network.
Ecuador pushed forward with its debt overhaul plans on Monday, requesting a vote among its creditors on reconfiguring the terms of US$ 17.4 billion of its external bonds, with its largest group of creditors backing the proposal.
Ecuador’s government will likely have to sweeten its offer to creditors in order to reach an agreement to restructure US$ 17.4 billion in bonds, say analysts. The government’s proposal already has the backing of one group of creditors, holding around half of the bonds and including AllianceBernstein, Ashmore and BlackRock.
Holders of Ecuador sovereign bonds have formed a committee to hold talks with the country's government on a potential re-profiling of the country's external debt, the group said in a statement on Thursday.
Guayaquil, Ecuador’s largest coastal city has been ravaged by coronavirus with bodies buried in mass graves or kept in newly-filled shipping containers to help relatives identify their loved ones among the decomposing corpses.
Demonstrators defied coronavirus restrictions to march in cities across Ecuador on Monday in protest against President Lenin Moreno's drastic economic measures to tackle the crisis.
LATAM Airlines Group, the largest airline conglomerate in Latin America, announced it will lay off 1,400 workers from its branches in Chile, Colombia, Ecuador, and Peru. The news was confirmed by the company on May 15, after Reuters released an internal video where LATAM CEO Roberto Alvo announced the measures to its employees.