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UPDATE 1-Ecuador says seeks to renegotiate IADB loans

Thu Mar 22, 2007 12:46pm EDT

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QUITO, March 22 (Reuters) - Ecuador has asked the Inter-American Development Bank to renegotiate the country's loans and will not ask for total debt forgiveness from the lender, Economy Minister Ricardo Patino said on Thursday.

The IADB will send a mission to Quito in the coming weeks to evaluate the government's proposal, which includes extending loan maturities and revising interest rates, he told reporters.

He gave no other details of the planned renegotiation.

Ecuador's international bondholders have been nervous about leftist President Rafael Correa's plans for revamping the Andean country's bonds and other debt.

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