Suriname bondholders enact default clause

Suriname bondholders enact default clause

Corporate & Sovereign Strategy International Financial Institutions International Monetary Fund (IMF) Economy & Policy Bonds Debt Fixed Income Capital Markets Funds Asset Management Suriname United States Oil

A majority of Suriname's bondholders has triggered a default clause on the country's 2023 and 2026 notes, saying the sovereign issuer has not fulfilled the commitments it made earlier this year. Suriname has "failed to negotiate in good faith the terms of the debt restructuring," the creditor committee said in a statement on Monday, adding that a proposal made on June 2 did not reflect the country's "economic prospects and evolving payment capacity." Suriname's proposal also differed from other

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