QUITO, Ecuador, Nov. 20 -- A presidential commission recommended Thursday that Ecuador default on almost 40 percent of its foreign debt after finding "illegalities and illegitimacies" in the contracts. President Rafael Correa said he would seek to halt payment on those debts and hold foreign investment banks and ex-government officials responsible, but fell short of declaring a default. An audit made public Thursday advises Correa's government to default on $3.9 billion in three types of bonds issued as part of a debt restructuring in 2000. It says the ... (more)