Belize reaches Debt Deal with Creditors

Belize has reached a deal in principle with creditors to restructure about half of its unpaid debt after “long and arduous” talks, allowing the country to avoid default.

Prime Minister Dean Barrow said at a press conference that he would release details about the restructuring of the $544 million bond in the coming days. He said that the agreement is comprehensive and sustainable.

Leader of Belize’s negotiating team on the debt restructuring, Mark Espat explained that details of the deal could not be made public until they were explained to all of Belize’s creditors.

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