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Lessons From the Ecuador 2020 Debt Restructuring Case
Ecuador, like several other frontier economies with high levels of external debt, currently faces severe liquidity constraints. In recent years, Ecuador has made significant efforts to overcome these challenges. This includes successfully completing an ambitious program with the International Monetary Fund, restructuring its external commercial debt in 2020 (which amounted to over US$17 billion), and addressing its debt to Chinese lending institutions in 2022 (approximately US$4 billion). […]