Opción socio-económica y política sobre la conversión de la deuda o capitalización
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This article was scanned by the Aurelio Espinosa Polit Ecuadorian Library.
"In accordance with the guidelines of the debt reduction program established by the World Bank" as stated in the text of the Development Letter, Ecuador's negotiating committee presented a reduction alternative to the creditor bank's Management Committee. The alternative contemplated a 70% reduction of the commercial debt through repurchase in the secondary market with financing from the World Bank and the monetary reserve, on the one hand, and, on the other hand, the reduction of the interest rate; in both cases the debt service would decrease in the same proportion.
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