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Ecuador's Lasso Says Problems Linked To China Oil Company Debts

LATAM
  • Ecuador still owes Chinese oil companies close to 120m bbl of crude oil as part of oil-backed loan deals, President Guillermo Lasso said in a streamed regular briefing with journalists.
  • “This is where the problem is,” linked to a $2.1b loan from the China Development Bank amid a bilateral debt of near $4.6b.
  • “There are Ecuadorian intermediaries, foreign intermediaries, who using China have abused Ecuador,” which Lasso said he “directly told President Xi Jinping” during their summit this month in Beijing. (BBG)

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