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Report that the loan agreement between China and Ecuador is about to be signed:

The government of Ecuador and the China Development Bank Corp. will sign in the coming hours a $1 billion loan agreement, a high-level government official told Dow Jones Newswires on Monday.

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News that Ecuador President Rafael Correa will travel to Korea:

Ecuadorian President Rafael Correa will visit Korea in the second week of September and meet with his Korean counterpart Lee Myung-bak. Along with Venezuela, Ecuador is a major oil producer in Latin America, and Correa is expected to discuss Korean participation in the construction of a US$12.5 billion oil refinery in the coastal province of Manabi jointly operated by Ecuador and Venezuela.

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Ecuador government debt ranked 2nd riskiest among 15 developing countries:

Ecuador’s foreign reserves dropped to the lowest level since July 2009, heading for their biggest monthly decline since May, as government cash deposits at the central bank fell.

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News that Ecuador President Rafael Correa will go to Japan:

Ecuadorian President Rafael Vicente Correa Delgado will pay a four-day working visit to Japan from next Sunday for talks with Japanese Prime Minister Naoto Kan, the Foreign Ministry said Monday.

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News that Ecuador President Rafael Correa will go to Haiti:

The President of Ecuador, Rafael Correa, will travel to Haiti on Monday as pro temp chairman of  the Union of South American Nations (UNASUR) to help consolidate aid efforts to the country devastated by the January 12 earthquake.

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News on Ecuador banking:

Banco del Pichincha CA, Ecuador’s biggest bank by revenue, may sell $100 million in preferred shares to raise capital after it bought Lloyds Banking Group Plc’s Ecuador operations, Pichincha President Fidel Egas said.

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Ecuador further defines the contracts that it would have with foreign oil companies operating in the country:

Fees to be charged to private oil companies won’t vary with international price of oil

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Report on oil production in Ecuador:

Ecuador’s average oil output fell 1% to 14.60 million barrels in June from 14.75 million barrels a year earlier, the Central Bank said.

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