Ecuador May Tap China to Fund Deficit, Fitch Says
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Ecuador will probably tap the nation’s pension fund and seek a loan from China next year to help finance its estimated $2.7 billion budget deficit, according to Erich Arispe, an analyst at Fitch Ratings.
South America’s seventh-biggest economy may need as much as 4.3 percent of gross domestic product to fund the “relatively large” deficit, Arispe, a New York-based analyst at Fitch, said yesterday in a telephone interview.