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Ecuador Eyes New Financing After World’s First Virtual Debt Deal

  • Martinez says August is key month to plug $4 billion gap
  • Ecuador is in talks with the IMF, China and AIIB, he says

Photographer: Rodrigo Buendia/AFP via Getty Images

Ecuador is aiming to secure additional financing by the end of August to help plug its fiscal gap after wrapping up a deal to restructure $17.4 billion of debt, according to Finance Minister Richard Martinez.

President Lenin Moreno’s administration is negotiating a new program with the International Monetary Fund as well as some $2 billion in bilateral loans from China. Martinez said the Asian Infrastructure Investment Bank is also considering a $50 million loan to support small and medium enterprises.