Ecuador Plans Big Infrastructure Spend

Ecuador plans to spend over $1.4bn in new infrastructure projects in 2011, according to the government. Almost half, $742m, will go toward constructing a new network of motorways stretching from the mountains to the Pacific Coast. The country is also spending $523m to fix the Manta Port. Although the government declines to comment on how it plans to fund next year’s projects, market participants say the mayor of Manta has gone on a financing trip to China.