Posted On 20 Apr 2016
The loan of $ 2,000 million the government underwrote yesterday with the China Development Bank (CDB) and the signing of a contract of sale of oil to Petrochina generate protests among economic and oil analysts.
According to Jaime Carrera, of the Fiscal Policy Observatory, Ecuador has already high debt levels and this amount is only slightly higher than the debt service to be paid this year to China.
According to Carrera, it is an expensive and short-term loan, which will cost the country approximately $ 140 million only in interests.
He recalled that Ecuador had four previous loans the CDB of similar conditions and commented that this money could well serve to pay those same debts. This, without counting what must be paid for the oil presales.