QUITO, Dec 15 (Reuters) - Ecuador has fully repaid its $650 million Global 2015 bond, President Rafael Correa said, despite the OPEC member’s squeezed finances due to the tumble in oil prices.
“We’ve just sent 650 million (dollars) to pay the entire 2015 bond,” Correa said on Twitter near midnight on Monday.
“First time in history,” he added, indicating it was the first time the government has fully paid the principal on a maturing global issue, despite its current struggles to pay local creditors in the construction sector.
Correa’s leftist government defaulted on $3.2 billion in sovereign bonds in 2008 but returned to markets in mid-2014 with a new $2 billion bond sale.
Reporting by Alexandra Valencia; Writing by Alexandra Ulmer