2010 Crunch Time For Economy

BMI View: Unrealistic growth projections and an unsustainable increase in fiscal expenditure will bring Ecuador's economic problems to a head in 2010. While it is too early to assert that another sovereign debt default is on the cards, we anticipate questions to once again emerge over the durability of the country's dollarised economy, which is likely to prompt a spike in yields in Ecuador's US$ Global 2015 bonds.

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