Optimism that Ecuador is finally exiting years of political chaos and economic stagnation under the recently re-elected President Daniel Noboa sent its bonds to a three-year high, even as the country remains mired in violence.
The debt, which surged on Noboa’s win in April, extended gains this month after the government announced subsidy cuts and tax reforms, as well as plans to issue dollar bonds in 2026 guaranteed by multilateral lenders. Notes climbed across the curve Thursday after the country unlocked additional funding from the International Monetary Fund. They’ve handed investors a whopping 41% return this quarter, the best ...
