Battle over Belize bond showcases default dilemmas
The central American country of Belize faced off against its bondholders this week in a battle that will once again highlight the power which small states with limited desire to access international capital markets can have in forcing through debt restructurings.
Belize last week declined to pay a $23m coupon on its $547m 2029 step-up bond, known locally as the "superbond". Rating agencies lowered it to selective default while it enters a 30 day grace period.
Prime minister Dean Barrow, who won an election in March that he says
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