Ecuador: Looking for fools wanting to part with their money
Encumbered forever by desire and ambition
There’s a hunger still unsatisfied
Our weary eyes still stray to the horizon
Though down this road we’ve been so many times
This report is dated April 1st, but it’s no joke:
Ecuador has hired Credit Suisse to arrange meetings with fixed-income investors in the UK and the US beginning on April 4, according to two market sources.
Non-deal because Ecuador defaulted on US$3.2billion of debt in December 2008, and it’ll take quite a bit of tap dancing and some really high (pie in the sky, perhaps?) interest rates for incurably gullible optimists to buy Ecuadorian debt, and hope it doesn’t default.
Apparently Ecuador also hired Citigroup.
Sing it, guys!