Ecuador Likely Will Appeal Chevron Court Ruling, Barclays Says

March 31 (Bloomberg) -- Ecuador will likely appeal a ruling by an international arbitration court that awarded Chevron Corp. damages of about $700 million from a dispute over its past operations in the country, said Alejandro Grisanti, an economist at Barclays Plc.

“They don’t have the ability to pay,” Grisanti said in e- mailed comments. He said he’s been recommending investors sell the country’s bonds due in 2015 -- the only international securities the government didn’t default on in the past year and a half -- because of the “deterioration in fiscal accounts.”

To contact the reporter on this story: Daniel Cancel in New York at dcancel@bloomberg.net