My dog ate 60% of our nation’s debt

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Electing an economist for President of Ecuador has not exactly solved the country’s financial woes. The price of Ecuador’s 10% dollar bonds due 2030 has dropped almost 30% since the November election of President Rafael Correa. The bonds were introduced in 2000 as a result of Ecuador's last major default. Now, citing potential “inhibition to growth,” Ecuador’s finance minister Ricardo Patino has publicly stated that the country may not service its outstanding debt, prioritizing domestic social spending. Patino did not have the same luck with trying to shirk his Visa bill.
Ecuador, Calling Debt ‘Illegitimate,’ May Repay 40% - [Bloomberg]

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Greek Debt Management Guy Thought His Partners In Obscuring The National Debt Would Be The Last People To Rip Him Off

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