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Bonds News

UPDATE 1-Ecuador sees 2010 external borrowing $2.18 bln

(Adds data)

QUITO, Nov 6 (Reuters) - Ecuador expects its external borrowing to reach $2.18 billion next year, according to a copy of the government’s $21.28 billion 2010 budget proposal.

The budget plan projects public debt amortizations of $996 million next year.

The Andean country lightened its debt load in 2008 by defaulting on $3.2 billion in global bonds. President Rafael Correa said the debt was riddled with irregularities, rendering it “illegitimate”.

Reporting by Alexandra Valencia; Editing by Andrew Hay

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