Ecuador will use $2 Billion China loan. (By Syldium, global import export directory).

Ecuador, that is South America’s third-largest oil reserves, will finance its current budget deficit with a $2 billion loan from China, 

Ecuador has based in oil profits and loans from China to pay that Ecuador is out of global credit markets due to non-payment the bonds in 2008 and 2009. 

Now, Ecuador plans to use loans tied to specific public works projects from regional multilateral lenders to cover most of its 2013 financing needs.

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