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Ecuador and China reach debt restructuring deal

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(Reuters) — The Ecuadorian government said in a statement on Monday that it had reached a debt restructuring deal with Chinese banks to provide debt relief worth $1.4 billion until .

Ecuadorian President Guillermo Russo announced in February that he was seeking to restructure the country’s debt and improve the terms of long-term oil sales contracts with Beijing.

for the Export-Import Bank, allowing cash flow relief to support the government’s priorities,” the president’s press team said in a statement.

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