Ecuadorean President Rafael Correa on Saturday said it would be very difficult to identify holders of the country´s benchmark global bonds.
Ecuadorean President Rafael Correa on Saturday said it would be very difficult to identify holders of the country's benchmark global bonds, but would move ahead with plans to audit the Andean country's foreign debt.
"I will sign a deal to create an audit commission to better determine illegitimate debt," Correa said during his weekly radio address. He did not say when the commission would be named or who would be part of it.
Correa, a leftist former economy minister, has rattled Wall Street with pledges to stop paying "illegitimate" debt, or credits acquired by corrupt past administrations to benefit some investors.
His government has sought to identify debt holders, but Correa said: "It will be too difficult because during the long and sad neoliberal night everything was made to cover the names of bondholders."
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