Ecuador and China Reach Agreement to Restructure Billions of Debt
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With great financial power, as China is learning, comes great responsibility -- or at least a willingness to restructure loans in danger of defaulting.
Case in point: Ecuadorian President Guillermo Lasso announced on Monday his nation reached a deal with China to restructure some $4.4 billion of outstanding debt. The move will save his nation $1 billion between 2022 and 2025.
Source Fool.com
