Ecuador must reach a new agreement with the IMF to finalize this agreement.
On the morning of this Wednesday, August 19, the Government reported that it obtained the necessary consent to postpone the settlement or closing date of the renegotiation of the foreign debt with the bondholders.
In the first instance, August 20 had been proposed as the deadline for the closing of this operation, but a few days ago, the Government requested a new deadline from its creditors, since one of its conditions is that a new agreement be reached with the International Monetary Fund (IMF).
The Executive needed 51% support for this change and it got it, with this, the new date for the debt renegotiation to conclude is September 1, 2020.
At the moment, the authorities have not announced a new agreement with the IMF, although the representatives of the Ministry of Finance have been in talks with this organization for more than three months, but so far nothing has been finalized.
Holders of Ecuadorian bonds must exchange their papers for the new bonds of three types: 2030, 2035 and 2040.
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