Belize Skips Payment, Enters Grace Period

Aug 21, 2012

The government of Belize has entered a 30-day grace period following failure to make a $23m coupon payment due Monday. “By defaulting on the bond, we believe the government is forcing bondholders to make a difficult decision between holding out, litigation and hoping to...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management