7 News Belize

More Banking Backlash On GOB Restructuring Scenarios
posted (August 10, 2012)
There is more angry reaction on the money markets to Government's so-called "Indicative Restructuring Scenarios". A UK Investment Banking Consultant called Exotix describes it thusly: "BELIZE - RESTRUCTURING PROPOSALS: WORSE THAN EVEN WE EXPECTED." They go on to explain that quote, "the proposals are even worse (for bondholders) than the fairly pessimistic scenarios we set…and are certainly worse than the market has been expecting."

The analysis notes the 46 million dollar coupon payment is due in ten days, and they say, quote, "We don't think the authorities would want to default on the coupon."

That is a matter, still unresolved, we gather - though the payment has been budgeted.

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