Ecuador Plans Bond Sale

Ecuador will sell bonds worth $300 million to Venezuela in September, according to the country´s Economy Minister Magdalena Barreiro. Barreiro, who took office this week, says Ecuador is seeking guarantees on the debt by the Andean Development Corporation (CAF). Venezuela, continuing President Hugo Chavez´s policy of building economic ties with other South American countries, has made a proposal to process Ecuadorian crude oil in Venezuelan refineries.