CFA, Portfolio Manager
Emerging Markets Debt Team
I’m here in front of the Ministry of Finance in Ecuador. Ecuadorian bonds have suffered so far this year, not so much changes in fundamentals but the perceptions of politics. So far on this trip, we seem to be more convinced about the political regime continuing on as opposed to an early termination. Oil prices have been high this year, which has bolstered Ecuadorian credit. We’re coming away slightly more convinced about their ability to remain current on their debt over the next few years, especially as external bond payments and amortizations are quite low up until 2026.
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