Two seemingly unrelated items:
Item 1:
Ecuador Expects $4 Billion in Loans From China in 2015
It is estimated China has committed more than $12 billion in financing to Ecuador between 2009 and 2014 (emphasis added),
Most financing operations from China to Ecuador have been tied to oil sales and several have been backed with presales of crude oil.
Mr. Herrera said the new loans aren’t linked with the selling of crude oil.
The minister said despite the decline of around 50% in oil prices, the Andean country plans to maintain its level of public spending this year, thanks to loans from China, credits from multilateral lenders and governments as well as the selling of Ecuadorean bonds in international markets and domestic debt.
The minister, however, ruled out that the country plans a new bond issue in international markets, citing high interest rates.
Last Thursday the country sold $750 million of five-year bonds at a yield of 10.5%.
In plain words, it sold $750 million worth of junk bonds.
According to Mil Hojas, Ribeney employees operate multiple social-media accounts dedicated to monitoring and attacking the Ecuadorian opposition.
At taxpayer expense, and perhaps a little help from junk bond sales and Chinese loans, too?
