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China: President Xi receives Ecuador's Moreno for loan talks
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12.12.2018
Ecuador's President Lenin Moreno was welcomed by Chinese President Xi Jinping in Beijing on Monday.
On Moreno's first state visit to China, the Latin American leader is reportedly seeking to renegotiate the terms of Ecuador's debt to Beijing.
China is the biggest lender to the small OPEC nation, owning about 18 percent of its external debt.
Lower oil prices have complicated debt payments and Moreno has sought to reduce Ecuador's fiscal deficit since taking office.
On Moreno's first state visit to China, the Latin American leader is reportedly seeking to renegotiate the terms of Ecuador's debt to Beijing.
China is the biggest lender to the small OPEC nation, owning about 18 percent of its external debt.
Lower oil prices have complicated debt payments and Moreno has sought to reduce Ecuador's fiscal deficit since taking office.
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