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|z 9781498369510
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|a 1018-5941
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|c BD-DhAAL
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|a Asonuma, Tamon.
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|a Sovereign Debt Restructurings in Belize :
|b Achievements and Challenges Ahead /
|c Tamon Asonuma, Gerardo Peraza, Kristine Vitola, Takahiro Tsuda.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2014.
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| 300 |
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|a 1 online resource (28 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a 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.
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|a Mode of access: Internet
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|a Peraza, Gerardo.
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|a Tsuda, Takahiro.
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|a Vitola, Kristine.
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|a IMF Working Papers; Working Paper ;
|v No. 2014/132
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2014/132/001.2014.issue-132-en.xml
|z IMF e-Library
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