Career banker Guillermo Lasso won Ecuador’s presidential election runoff after a late surge in the polls, preventing a return to socialism and reassuring bondholders in the default-prone country.
On the banks of the Amazon River, in a village without electricity or drinking water, Andrea Rodrigo makes the yuca flour that her family sells in markets along Peru’s remote borders with Brazil and Colombia. The 21-year-old Peruvian woman and seven of her neighbors recently paddled for half an hour down the vast river to…
Ecuador Bonds Rally as Millionaire Banker Wins Presidency Bloomberg 17 mins ago Stephan Kueffner and Sydney Maki
(Bloomberg) Ecuadorean bonds rallied after career banker Guillermo Lasso won the presidential election with a late surge in support, calming investors who thought his opponent was likely to lead the default-prone country into insolvency once again.
Lasso beat out economist Andres Arauz, a left-wing protege of former President Rafael Correa, by a solid margin in Sunday’s runoff vote. Arauz, who conceded defeat, won February’s first round by 13 percentage points.
It was a massive relief for bondholders, who bid up the country’s benchmark notes to their biggest gain since they were restructured just eight months ago. Ecuadorean debt had been trading at levels that signaled broad investor skepticism amid worry that a victory for Arauz would lead to unsustainable levels of social spending and an inevitable default from a politician who promised
Ecuadorean bonds rallied after career banker Guillermo Lasso won the presidential election with a late surge in support, reassuring investors in the default-prone country and shoring up U.S. ties.
(Bloomberg) Career banker Guillermo Lasso won Ecuador’s presidential election after a late surge in support, reassuring bondholders in the default-prone country and shoring up U.S. ties.