The People of Ecuador Don't Owe the Debt

When he first became president of Ecuador, Correa appointed a commission to look into whether the Ecuadorians really owed all the debt that the World Bank claimed they owed. A large amount of that debt was not owed by the people of Ecuador because it had been accepted by military dictators in Ecuador who were put into power essentially by the United States and were very corrupt. China stepped in and offered Ecuador a big loan at low interest. The Ecuador could pay off. And pretty soon their ratings went back up. Then China gave them another loan. Korea defaulted on the loan. Immediately all the Western rating agencies, Fiches and all the other ones downgraded Ecuador to trash. So you're going