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Bond Market News
Ecuador’s Dollar Bonds Slide as Market Eyes Slow Reform Pace
May 29, 2025
Ecuador’s dollar bonds dropped by 0.8 points on Wednesday, underperforming emerging-market peers. Bloomberg reported that investors have grown cautious as Noboa’s administration is yet to announce any major reforms since taking office. Sources said that the market remains focused on Ecuador’s fuel subsidies, whereas President Noboa appeared hesitant to implement major cuts in the near term. Instead, he was said to have signalled a preference for gradual adjustments.
Ecuador’s dollar bonds had rallied in April following President Noboa’s victory, as markets were initially optimistic about swift reforms and economic turnaround under his leadership. On Wednesday, Ecuador’s 5.5% 2040 declined by 0.9 points to 48 cents on the dollar, yielding 15.78%.
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