Belize gov’t says bondholders media reports inaccurate

The Belize government has described as inaccurate media reports that it failed to provide background information to bondholders in relation to a decision to default on the external debt payment.

The government was responding to questions surrounding the non-payment of the external debt that was due on August 20.

It said it posted indicative restructuring scenarios on the Central Bank of Belize’s website as well as responses to the economic information requested by the creditor committee together with a general overview of Belize’s economic situation and prospects.

The main opposition People’s United Party has been calling for Prime Minister Dean Barrow to address the nation on the implications of the decision to default on the external payment.

A senior official of the financial industry has warned that there are penalties for defaulting and the country may now have to look at the Washington-based International Monetary Fund for assistance.  

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