ECUADOR WINS RESTRUCTURING OF $17-B DEBT

Ecuador has won the backing of most of its creditors to restructure about $17 billion in debt, the government said on Monday, Carlos Garcia Granthon wrote for the Deutsche Presse-Agentur (dpa) on August 4, 2020.

"More than 97 per cent of bond holders backed the renegotiation of our foreign debt. We shall dispose of resources to attend to the most vulnerable ... and to reactivate the economy," President Lenin Moreno tweeted.

The South American country launched debt restructuring talks after the coronavirus pandemic and a fall in oil prices hit its economy.