Ecuador reaches $1.4bn debt restructuring deal with China

Ecuador announced on Monday night that it has reached a debt relief restructuring agreement with Chinese banks worth $1.4bn until 2025, as Beijing increasingly offers bailouts to countries at risk of financial crises.

The government of centre-right president Guillermo Lasso said it had reached agreements with the China Development Bank and the Export-Import Bank of China (Eximbank) worth $1.4bn and $1.8bn, respectively. The deals will…