Home > Uncategorized > Ecuador Declares Foreign Debt Illegitimate

Ecuador Declares Foreign Debt Illegitimate

http://www.projectcensored.org/top-stories/articles/10-ecuador-declares-foreign-debt-illegitimate/

In November 2008, Ecuador became the first country to undertake an examination of the legitimacy and structure of its foreign debt. An independent debt audit commissioned by the government of Ecuador documented hundreds of allegations of irregularity, illegality, and illegitimacy in contracts of debt to predatory international lenders.

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