Belize's 2016-17 Sovereign Debt Restructuring - Third Time Lucky?
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Summary:
This paper examines the causes, processes, and outcomes of Belize’s 2016–17 sovereign debt restructuring—its third episode in last 10 years. As was the case in the earlier two restructurings, in 2006–07 and in 2012–13, the 2016–17 debt restructuring was executed through collaborative engagement with creditors outside an IMF-supported program. While providing liquidity relief and partially addressing long-term debt sustainability concerns, the restructuring will need to be underpinned by ambitious fiscal consolidation and growth-enhancing structural reforms to secure durable gains.
Series:
Working Paper No. 2018/121
Subject:
Asset and liability management Bonds Debt restructuring Financial institutions Fiscal consolidation Fiscal policy Public debt Sovereign debt restructuring
English
Publication Date:
May 22, 2018
ISBN/ISSN:
9781484357217/1018-5941
Stock No:
WPIEA2018121
Pages:
26
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