AMERICAS

摘要

Investors were expected to give Ecuador some breathing space and agree to a consent solicitation that expired on Friday, but warn that a bigger debt restructuring is ahead for the beleaguered Andean nation. With Ecuador facing a possible hard default that could trigger worse consequences, analysts and investors think the buyside will agree to the government's request last week to defer and reduce interest on some US$19bn of bonds until August. "I think the consent will go through," said one bondholder. "They are unlikely to be able to pay these coupons and the buyside realises they have to give them some time rather than go into a chaotic mess." The administration of President Lenin Moreno has been seen taking the right actions but has been hit by the Covid-19 pandemic and plummeting crude prices that have further hurt the finances of the cash-strapped oil exporter.