Ecuador coupon payment wrong-foots investors

Confusion reigned among investors in Ecuador's sovereign debt after the government backtracked on threats not to make interest payments on foreign liabilities it described as "illegitimate".

A $135 million coupon payment on Ecuador's 2030 global bond was made as scheduled on February 15, despite president Rafael Correa's decision to postpone it until an unspecified date during the 30-year grace period for deferred payments.

"While this is comforting to bondholders, there is still a lot of

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