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As President of Ecuador from 2007-2017, Rafael Correa defaulted on Ecuador's sovereign debt, buying most of it back at 35 cents on the dollar ($0.35

As President of Ecuador from 2007-2017, Rafael Correa defaulted on Ecuador's sovereign debt, buying most of it back at 35 cents on the dollar ($0.35 per 1 USD) in a restructuring that led to higher growth and Ecuadorian exports. True or False? Defend your answer.

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