Ecuador’s President visits China to renegotiate debt

President Guillermo Lasso plans to visit China at the beginning of February to talk with his Chinese counterpart Xi Jinping about the renegotiation of a debt of more than 5 billion dollars….

President Guillermo Lasso plans to visit China in early February to talk with his Chinese counterpart Xi Jinping about the renegotiation of a debt of more than US$ 5 billion, among other objectives.

In a press conference on Monday, Ecuadorian Foreign Minister Juan Carlos Holguin said that one of the main issues is the beginning of the process of a trade agreement with China and to deal in a transparent and direct way with the mechanisms of debt payment that we have at the moment.

He specified that 4.2 billion dollars of this total must be paid in the next three years, however, since negotiations on this issue are also underway, we cannot give any details of what we are proposing, although he clarified that it will be a proposal that defends Ecuador’s interests and that can be accompanied and understood by the Chinese government.

Lasso’s visit with a reduced delegation will begin on February 3.

Regarding the relationship with the United States, Holguín commented that bilateral cooperation relations on issues such as security and the fight against corruption and drug trafficking are at an exemplary moment” with coordinated actions.

She emphasized that Ecuador expects to close a bilateral agreement with Mexico as soon as possible and subsequently join the Pacific Alliance. President Lasso has confirmed his presence at the meeting of that group on January 26.

The Pacific Alliance is a proposal for sub-regional integration formed by Chile, Colombia, Mexico and Peru, four countries in the incorporation phase and four associate countries, but with more than 40 countries from four continents as observers that seek to generate a solid area of integration that promotes greater growth, development and competitiveness of its member economies.

When asked about the situation of Venezuelan migrants in Ecuador, estimated at 450,000, he said that we are a few days away from presenting to the country the new regularization regulations” that will begin with a migratory registration and in parallel with the delivery of a temporary humanitarian visa for up to two years to then propose a process of socio-economic integration. Initially, the situation of between 250,000 and 280,000 Venezuelans will be regularized.