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Bond Market News
Ecuador’s Dollar Bonds Jump on Nearing IMF Deal
April 18, 2024
Ecuador’s dollar bonds gained by almost 6-9% on the back of the nation nearing an IMF Deal. Ecuador’s President Daniel Noboa said that they will be able to announce the good news as soon as next week. Its finance minister Juan Carlos Vega also reiterated that the country is in very advanced talks with the Fund and hopes to make a positive announcement of having reached a staff-level agreement in the near term. Earlier in March, the President had said that they will be able to reach a deal with the IMF in the next two months. A Bloomberg Index of EM dollar bonds notes that Ecuador’s bonds have delivered YTD returns of 56%.
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