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Ecuador defaults on foreign debt
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| Contributor | Jason |
| Last Edited | Jason Dec 13, 2008 01:00am |
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| Category | News |
| Media | TV News - British Broadcasting Corporation BBC News |
| News Date | Saturday, December 13, 2008 06:00:00 AM UTC0:0 |
| Description | Ecuador is to default officially on billions of dollars of foreign debt it considers "illegitimate", says President Rafael Correa.
Mr Correa said he had given the order not to approve a debt interest payment due on Monday, describing the international lenders as "monsters".
The president said the some of Ecuador's $10bn debt was contracted illegally by a previous administration |
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