On August 3, the President of Ecuador, Lenin Moreno, announced that the country had achieved a “historic vote” to restructure the terms of payment of foreign law debt bonds, which amount to USD 17.375 million.

Finance Minister Richard Martinez announced that the voting process will be extended until August 7, to encourage creditors who have not yet voted “join the majority”.

It should be mentioned that Ecuador needed 66% of the creditors to agree to the new conditions, and so far the vote has achieved an approval rating of 98.15%.