Ecuador declares foreign debt illegitimate

Something’s gotta give if enough honest people try hard enough! * Ecuador Declares Foreign Debt Illegitimate * IN TOP 25 CENSORED STORIES FOR 2010 In November 2008, Ecuador became the first country to undertake an examination of the legitimacy and structure of its foreign debt. An independent debt audit commissioned by the government of Ecuador [...]

Ecuador defaults on illegitimate debt

From Blog the Debt Ecuador Defaults on Illegitimate Debt By Hayley Hathaway, Jubilee USA Network On Friday, Ecuador’s President Rafael Correa announced that his government would default on payments on some of its commercial debts. The decision comes in response to detailed recommendations from the Public Debt Audit Commission, an independent commission formed by the [...]