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Belize Inches Closer to Default

Aug 15, 2012

Belize is unable to make a $23.1m coupon payment on its $543.8m outstanding in 2029 “super bonds” scheduled for August 20, the government says, moving the situation closer to a default and possible decision to accelerate by its bondholders. “We simply cannot afford this coupon payment given the financing shortfalls and other challenges we face. Our hope is that we move quickly toward a sensible restructuring of the instrument,” Prime Minister Dean Barrow says in a...

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"[While] it’s good to build more infrastructure and increase investment, you have to be conscious about the macro effects of too big an increase in domestic demand, including of course public expenditure."

Julio Velarde, Peru central bank


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