Aurelian Resources Was Stolen By Kinross and Management But Will Not Be Forgotten

The company whose shareholders were better than its management

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laross19

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1 More Nugget of Good News for the Night............

posted on Jun 16, 2008 06:37PM

Ecuador unlikely to default on debt-finance minister

Mon Jun 16, 2008 2:38pm EDT

NEW YORK, June 16 (Reuters) - Ecuador's Finance Minister Fausto Ortiz said on Monday the country is unlikely to default on its foreign debt despite an ongoing audit to determine its legitimacy.

"I don't see how the results of the audit will lead to a potential default," Ortiz told investors in New York, adding that President Rafael Correa is a leftist but has "common sense."

Correa said earlier this month that he would annul debt found to be illegitimate by the audit commission, set up last year to review the country's $10 billion foreign debt.