Despite multi-million loans offered by China, the largest lender in the country in 2015 ended up being the Inter-American Development Bank (IDB). The country ended 2015 with a (domestic and foreign) debt of USD 32 752 billion $ 2,612 million more than at the end of 2014, primarily as a result of external debt, according to the Ministry of Finance.
The amount also represents 33.1% of Gross Domestic Product (GDP), without taking into account operations of oil pre-sales that are not considered as debt.
As soon as 2015 started, and amid a drop in oil revenues, a large delegation headed by President Rafael Correa visited the Asian country to obtain financing in an economically difficult year. And while China offered disbursements for USD 4000 million for last year, a few of those resources came.