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Ivanhoe Capital Acquisition Corp is a special purpose acquisition company that targets companies in the supply chain from the mine site to the end-user of electrification products and services, including in the transportation, e-mobility, electric propulsion, battery technology, and storage sectors. These include companies exploring for mining, processing, or refining metals necessary for... see more

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Ivanhoe Capital Acquisition Corp. Warrants each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per... > IE can help Ecuador if they want

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Post by wesmile on Dec 14, 2012 7:29am

IE can help Ecuador if they want

Ecuador to use $2b Chinese loan to fund budget deficit

Updated: 2012-12-14 13:16

(China Daily)

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Ecuador, home to South America's third-largest oil reserves, will finance its 2013 budget deficit with a $2 billion loan from China, Finance Minister Patricio Rivera said on Thursday.

The government will use the loan to help fund a spending gap set to increase to about $6 billion next year, Rivera said in a joint news conference with President Rafael Correa in Quito.

That is 7.75 percent of the GDP forecast for 2013, up from this year's forecast budget deficit of 5.7 percent, according to Finance Ministry and Central Bank data.

China Daily-Agencies

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