Ecuador Default Odds Surge as Virus Prompts Calls for Moratorium

(Bloomberg) -- Ecuador’s Congress called on the government to suspend debt payments to free up cash to deal with the coronavirus pandemic, prompting JPMorgan Chase & Co. to warn of a potential default as soon as Tuesday.The South American nation’s $3 billion of bonds due in 2028 fell 3.5 cents to a record low 31 cents on the dollar, pushing yields to 33%. Ecuador has about $320 million of debt due tomorrow and coupon payments later this week.Lawmakers from all major parties want