Debt Default Risks Overblown...Again

July 2008 | Market Strategy

Once again, political headlines rather than economic fundamentals are helping to drive down the price of Ecuadorian debt, with the US$ Global 30 bond reaching a nine-month low of 89.25 on July 21. This price decline followed comments by the new Finance Minister, Wilma Salgado, questioning the legality of Ecuador's debt.

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