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Reuters
Reuters
Business
Alexandra Valencia

Ecuador's president wants to untie oil output from debt on China visit

FILE PHOTO: Ecuador's President Guillermo Lasso speaks during the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain, November 2, 2021. Adrian Dennis/Pool via REUTERS/File Photo

Ecuador's President Guillermo Lasso said on Tuesday he will seek to disconnect the handover of crude from outstanding debt to China during a visit to the Asian country next month, part of his plan to renegotiate some $4.1 billion in debt.

In the last decade China has become Ecuador's primary financial partner, with crude for credit agreements, open credit arrangements and multi-million dollar investments in the mining industry and dams.

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