Across the world, government bondholders have seen losses pile up this year as a pickup in inflation and economic growth puts central banks under pressure to raise interest rates.
That makes even more remarkable the windfalls seen in Ecuador, a junk-rated South American nation that was mired in recession even before the pandemic and was forced to restructure $17.4 billion of debt last year -- a step rating companies considered a default.
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August 02, 2021 at 06:00PM
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Ecuador Defaulted Last Year. Now Its Bonds Are the World's Best - Bloomberg
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