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Ecuador Bonds Jump to Highest Level Since July Amid IMF Talks

  • IMF says Ecuador has requested assistance after earthquake
  • Government's past criticism may be obstacle to bigger deal

Ecuador’s benchmark bonds rallied to their highest levels since July after the nation’s talks with the International Monetary Fund boosted speculation the Washington-based lender will help the cash-strapped country dig itself out of a punishing recession.

The IMF said Wednesday that the government had requested assistance, without providing more details. The country’s $2 billion of bonds due in 2024 jumped 2.2 cents to 86.1 cents on the dollar at 2:30 p.m. in New York, pushing yields down 0.46 percentage point to 10.5 percent. Ecuador’s $1.5 billion of notes due in 2020 surged 3.25 cents to 94 cents.