Sovereign Debt Restructurings in Belize : Achievements and Challenges Ahead /
This paper examines the causes, processes, and outcomes of the two Belize sovereign debt restructurings in 2006-07 and in 2012-13 that occurred outside of an IMF-supported program. It finds that the motivation for the two debt restructurings differed, as the former was driven by external liquidity c...
| Päätekijä: | |
|---|---|
| Muut tekijät: | , , |
| Aineistotyyppi: | Aikakauslehti |
| Kieli: | English |
| Julkaistu: |
Washington, D.C. :
International Monetary Fund,
2014.
|
| Sarja: | IMF Working Papers; Working Paper ;
No. 2014/132 |
| Linkit: | Full text available on IMF |
| Yhteenveto: | This paper examines the causes, processes, and outcomes of the two Belize sovereign debt restructurings in 2006-07 and in 2012-13 that occurred outside of an IMF-supported program. It finds that the motivation for the two debt restructurings differed, as the former was driven by external liquidity concerns while the latter was motivated by a substantial increase in the coupon rates and future fiscal solvency concerns. Despite differential treatment between residents and non-residents, both 2006-07 and 2012-13 debt exchanges were executed through collaborative engagement, due in part to the existence of a broad-based creditor committee and the authorities' effective communication strategy. However, while providing temporary liquidity relief, neither of the debt restructurings properly addressed long-term debt sustainability concerns. Going forward, the success of the 2012-13 debt restructuring will still depend on the country's ability to strengthen fiscal efforts and public debt management framework. |
|---|---|
| Huomautukset: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| Ulkoasu: | 1 online resource (28 pages) |
| Aineistotyyppi: | Mode of access: Internet |
| ISSN: | 1018-5941 |
| Pääsy: | Electronic access restricted to authorized BRAC University faculty, staff and students |