The Public Debt Auditing and Overseeing Commission

ECUADOR - In Brief 09 Jan 2018 by Magdalena Barreiro

The Comptroller General is conducting an audit to public debt contracted between 2012 and 2017. The scope of the analysis covers domestic and external debt including Chinese loans and oil facilities despite the claim from the government that this financing does not constitute debt but just a pre-paid crude oil sale. This audit has several objectives among which establishing the real amount of debt and its ratio to GDP to establish the compliance with the legal ceiling of 40% is one of the most important, together with determining the legality of several procedures and legal articles issued ...

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