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economy English News Blog for  Ecuador News Blog March Archive 

Ecuador to levy royalties on foreign companies

By Giovanni at 03/27/07 05:12

Energy Minister Alberto Acosta has announced that Ecuador will likely revise its mining concessions and introduce royalty charges on foreign companies in an effort to boost state revenues.

Original source: Reuters. Ecuador to review mine concessions, seek royalties

Ecuador to use oil funds to open line of credit

According to top government officials, Ecuador will utilize its oil funds to obtain a $250 million dollar line of credit, which will then be delivered to farmers and shop owners to assist them in developing their businesses.

Original source: Reuters. [404 Check: was link to http:/ / today. reuters. com/ news/ articleinvesting. aspx?type=bondsNews&storyID=2007 -03 -22T215056Z_ 01_ N22215203_ RTRIDST_ 0_ ECUADOR -FUNDS. XML, anchor: Ecuador to tap into oil funds for credit line]

Ecuador wants to pay loans after renegotiation

Ecuador Economy Minister Ricardo Patino, says that his country will not ask for total debt forgiveness from the lender, and has requested the Inter-American Development Bank to renegotiate the country's loans.

Original source: Reuters. Ecuador says seeks to renegotiate IADB loans

Ecuador backs away from debt default

President Rafael Correa has backed away from his threat to default on $10 billion worth of debt. Dollar bonds issued by Ecuador have surged 19.1 percent this year.

Original source: International Herald Tribune. Ecuador heeds advice on default

Banking crisis rumors denied

Telling Ecuadoreans that their money is safe and the country's financial institutions are solvent, the economy minister dismissed rumors that the country is descending into a banking crisis,

Original source: Chron.com. [404 Check: was link to http:/ / www. chron. com/ disp/ story. mpl/ ap/ fn/ 4635268. html, anchor: Ecuador Denies Rumors of Banking Crisis ]

Ecuadorean President keeps up tough stance

Having succeeded at rattling Wall Street with his promises to limit foreign debt payments and close the air base used by the U.S. military, Ecuadorean President Rafael Correa kept up his tough stance and said he would rework oil and mining deals and restructure foreign debt

Original source: Reuters. Ecuador to review oil deals, overhaul debt

Ecuador refuses to pay cenbank debt interest

President Rafael Correa, a US trained economist, has announced that he may not make foreign debt payments, vowing to use the money instead to improve civic amenities, in keeping with his election campaign pledge to put "life before debt.

Original source: Reuters. [404 Check: was link to http:/ / today. reuters. com/ news/ articleinvesting. aspx?type=bondsNews&storyID=2007 -03 -12T215601Z_ 01_ N12236732_ RTRIDST_ 0_ ECUADOR -DEBT -CENBANK. XML, anchor: Ecuador govt refuses to pay cenbank debt interest]

Ecuador to make next bond repayment on time

In a welcome retreat from the threatened second debt payment default, Ecuadorean Finance Minister Ricardo Patino, said the country will probably make its upcoming debt payment on schedule as the government faces no imminent financial crisis.

Original source: Bloombergs. Ecuador to Make Next Payment on Bonds, Patino Says

Opportunities for investing in Ecuador

By liberalizing it's investment regulations and giving equal treatment to local and foreign investors, Ecuador has taken enormous strides towards attracting investors from abroad. It is now a prime location for investment and retirement.

Original source: Internationalliving.com. [404 Check: was link to http:/ / www. internationalliving. com/ ecuador/ investment. html, anchor: Making an Investment in Ecuador]