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Belize offer to creditors 'worse than Argentina in 2001'

Wednesday, August 22, 2012

In an effort o restructure its foreign debt, Belize offered bond holders 20 cents in the US dollar, an offer described by Bank of Nova Scotia and Citigroup was worse than Argentina presented to its bond-holders in 2001.

The bond-holders rejected the offer but feel confident that it will be improved.

Joseph Waight, Belize's finance minister said that there was nothing more on the table at the moment but Belize would do all it can to satisfy the bond-holders.

Full story (in Spanish)