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Article: Ecuador Concludes Debt Rescheduling With Paris Club
- Article from:
- Xinhua News Agency
- Article date:
- September 19, 2000
CopyrightCopyright 2000 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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Ecuador's President of the Foreign Debt Rescheduling Commission
Jorge Gallardo confirmed Monday that the rescheduling of Ecuador's
foreign debt with the Paris Club, amounting to 1.3 billion US
dollars has concluded.
According to Gallardo, out of the 1.3 billions, 887 million
dollars will be re-financed, and besides, it was possible to swap 20
percent of the debt for the realization of social programs.
Gallardo said the goal of Ecuador is to search for mechanisms to
condone the debt and that for that purpose there is a meeting on the
agenda with the Paris Club creditors in April, next year.
It was possible for Ecuador to get a 20-year term with a 10- year
grace period, and an interest rate in ...