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Weekly Report - 23 April 2020 (WR-20-16)
ECUADOR: Moreno gains respite but not for long
The government led by President Lenín Moreno was granted some breathing space on 17 April when bondholders accepted an appeal to defer interest payments on debt maturing between 2022 and 2030. In the short-term this will free up US$811m for the government to try and address the health and economic toll exacted by the coronavirus (Covid-19) pandemic. This could merely be deferring default. The government now has to strike a deal with bondholders to restructure its debt by 15 August. They will be acutely aware that the twin blows of Covid-19 and an oil price plunge Moreno described this week as “the most critical moment in our history” will cripple the economy and leave his government in no position to repay its debts.
- Brazil gripped by disunity in time of crisis
- ARGENTINA: Reverting to hardball debt renegotiation tactics
- ECUADOR: Moreno gains respite but not for long
- COLOMBIA: Power struggle could undermine virus response
- PERU: Uncertain prospects for primary elections
- VENEZUELA: Oil crash turns up the heat
- BOLIVIA: Political rivalry shapes pandemic response
- MEXICO: Prisoner amnesty gets go ahead
- MEXICO: Economic response still fuelling controversy
- EL SALVADOR: Bukele issues further challenge to top court
- HONDURAS: Anti-corruption groups warn of another epidemic
- NICARAGUA: Health strategy continues to raise eyebrows
- Guyana’s oil attracts strong interest despite price collapse
- Quotes of the week