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Ecuador to repurchase debt at 70 percent discount

Ecuador’s finance minister says her country will repurchase nearly a third of its foreign debt at a 70 percent discount, ending months of speculation about a default. Minister Maria Elsa Viteri says the government will buy back about $3.2 billion in Global 2012 and 2030 bonds, worth about 32 percent of Ecuador’s total foreign debt.Full Story

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