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Ecuador Defaults, Vows To Fight “Monster” Creditors
President Rafael Correa declared a default on Ecuador’s foreign sovereign bonds on Friday, vowing to fight “monster” debt-holders in court in one of most aggressive moves against investors in the region for years.
Ecuador’s dollar-denominated debt prices plunged on news of its second default in a decade and the first in Latin America since Argentina in 2002, although the decision was not expected to lead to similar moves around the region.



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December 24th, 2008 at 1:07 am
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