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Ecuador Struggles with Decision on How to Address Foreign Debt

ISSN:1060-4189
LADB Article ID: 50944
Category/Department: Ecuador
Date: 2009-01-16
By: LADB Staff

When Ecuadoran President Rafael Correa announced on Nov. 20, 2008, that he would "seek not to pay the illegitimate debt, the corrupt debt, and the illegal debt," many Ecuadorans thought that finally the government was heeding the request of dozens of social organizations that, for at least two decades, have been demanding the nonpayment of the foreign debt.

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