Belize’s 2016–17 Sovereign Debt Restructuring – Third Time Lucky?

Tamon Asonuma, Michael Papaioannou, Eriko Togo () and Bert van Selm ()
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Eriko Togo: International Monetary Fund, U.S.A.
Bert van Selm: International Monetary Fund, U.S.A.

Journal of Banking and Financial Economics, 2020, vol. 2, issue 14, 47-67

Abstract: This paper examines the causes, process, and outcome 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 and avoid future debt distress situations.

Keywords: Sovereign Debt; Sovereign Defaults; Sovereign Debt Restructurings; Serial Debt Restructurings; Belize (search for similar items in EconPapers)
JEL-codes: F34 G15 H63 (search for similar items in EconPapers)
Date: 2020
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Working Paper: Belize's 2016-17 Sovereign Debt Restructuring - Third Time Lucky? (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:sgm:jbfeuw:v:2:y:2020:i:14:p:47-67

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