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Political & General

Leading the way on Ecuador’s threat to default on its debt, winning client attention

Reuters has led throughout November as Ecuador flirts with a default on part of its debt. A series of beats based on exclusive interviews with Cabinet ministers and a barrage of beats moved volatile debt markets and brought client praise. One senior Goldman Sachs economist said Reuters was way ahead of the competition "as usual." The latest Reuters win came on Nov 20 with an exclusive interview with Minister Ricardo Patino, in which he called on global bondholders to provide a debt restructuring proposal. A proposed 60 percent reduction of the nominal value of the country`s global bonds was "not enough". Bloomberg could not match the news that day and Dow Jones was forced to quote a Goldman Sachs report quoting Reuters. Reuters was also first to report Ecuador had filed suit to halt payments of a Brazilian loan considered unlawfully contracted by a past government.

Article Tags
Topics of Interest: Political & General
Type: Reuters Best
Regions: Americas
Countries: Ecuador