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Ecuador President Rafael Correa “played the market for fools”...defaulting on over $3 billion of debt six months ago and then repurchasing the bonds at less than 40 cents on the dollar, says Aberdeen Asset Management Plc.
It is reported that Ecuador has bought back 91 percent of the defaulted bonds due in 2012 and 2030.
http://www.bloomberg.com/apps/news?pid=20601086&sid=adSb2tzt_y3E
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