Caribbean & Central America - September 2012 (ISSN 1741-4458)

On 20 August Belize missed a US$23m interest payment on the country’s US$550m ‘Superbond’. This possibility was well signalled in the 7 March general election campaign, which saw the United Democratic Party (UDP) led by Prime Minister Dean Barrow squeeze home for a second term. However, bondholders are angry that an Article IV report published by the International Monetary Fund (IMF) last December, in consultation with the Belize government, “did not even raise a concern about debt sustainability”.

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