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Ecuador Vice President ‘Does Not Know’ If Country Will Pay Debt

By Nathan Gill
     Dec. 11 (Bloomberg) -- Ecuador’s Vice President Lenin Moreno comments on the country’s debt. Moreno spoke to reporters today in Santiago.

On whether Ecuador will pay its foreign debt:
     “This is the president’s decision, frankly. I don’t know. There are many factors to consider. We have decided that it is important to make things transparent and that moments of crisis are moments of opportunity.”

On Ecuador’s government-commissioned audit of its foreign debt:
     “The results of this audit were very disheartening with respect to the organizations and also the participation of Ecuadorians who didn’t behave ethically in terms of accelerated processes, poor management, and very poor judgment when entering into and renewing contracts with creditors. These factors have caused us to ask the international community that they put an end to these conditions.”

On what Ecuador has requested of Chile:
     “We are not asking Chile to support our decision to not pay, but that they support our sovereign attitude and that they support the possibility of forming an international commission to perform a detailed analysis that would allow us to identify the irregularities that occurred in the negotiation of the foreign debt.”

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