quito feb 9 reuters  ecuadorean president guillermo lasso said on wednesday his government does not expect to seek more foreign debt this year because of assured funding from higher oil prices and tax collection lasso has used multilateral financing to fund recovery of the covidbattered economy since he took office in may including renegotiating a 65 billion credit agreement with the international monetary fund imf he has also said he hopes to renegotiate bilateral debt with china which became ecuadors top lender over the past decade with millions of dollars in longterm credit tied to the handover of crude oil large investments in hydroelectric and mining projects and other loans read more we dont foresee taking more financing from china nor with any other international organization lasso said in an interview broadcast on social media we have our accounts in order for 2022 we have an oil price thats above whats included in the budget tax collection in january that was close to 19 higher than in january 2021 he added i dont see the necessity to take out more debt ecuador has predicted an oil price of 592 per barrel and tax collection of 1477 billion this year lasso has said he hopes to reduce external debt during his term and the government predicts a reduction in the fiscal deficit to 2 of gdp this year lasso said there was political receptiveness to his proposals during a visit to beijing last week to increase payment time limits lower interest rates and disconnect the handover of crude from outstanding debts read more the two countries have said they plan to sign a free trade agreement around the end of the year reporting by alexandra valencia writing by julia symmes cobb editing by alexandra hudson