Oxy debt swells the list of liabilities of the Treasury

    The Finance Minister Fausto Herrera said that the compensation that has to be paid is no longer considered a contingent liability and passed to be a “passive.” During his appearance before the Commission on Economic Conditions of the Assembly, the...
Posted On 06 Nov 2015
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Ecuador will cover its deficit with more debt

Public funding for 2016 will be $ 6,600 million ($ 5,858 million through fresh loans and $ 725 million by advance oil sales). Thus, credit will be the second source of revenue for state coffers after taxes ($ 15,400 million), but above crude sales. But that debt will be used to...
Posted On 06 Nov 2015
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