Ecuador's successful default?

Michael Pollak mpollak at panix.com
Thu Mar 29 04:08:56 PST 2001


An article in yesterday's FT, very much in passing, said:

<quote>

Mr. Gallardo [the present finance minister] . . last year headed negotiations with private creditors to repackage Ecuador's $6.6 bn of defaulted Brady bond and eurobond debt, cutting the burden by 40 percent.

<unquote>

Although there's been an article on Ecuador at least once a week for the last year, I don't remember that ever being the headline ;o) In fact I somehow missed it ever being mentioned before.

Michael

__________________________________________________________________________ Michael Pollak................New York City..............mpollak at panix.com



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