A Welcome Relief

February 2007 | Economic Analysis

Almost all of Belize's bondholders have opted to participate in the government's 'friendly' restructuring deal - an unexpected but extremely welcome move, which will give the authorities increased confidence in attaining their long-term fiscal targets. In fact, 93% of creditors agreed to the arrangement, and will now exchange their existing paper for step-up coupon bonds maturing in 2029. It is thought that participation could rise to above 95% before the deal is formally undertaken on February 20.

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