Belize's 2016-17 Sovereign Debt Restructuring - Third Time Lucky?
27 Pages Posted: 1 Aug 2018
Date Written: May 2018
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.
Keywords: Sovereign debt, Sovereign debt restructuring, International financial markets, Fiscal consolidation, Fiscal reforms, Belize, Sovereign Debt; Sovereign Defaults; Sovereign Debt Restructurings; Serial Debt Restructurings; Belize, Sovereign Debt, Sovereign Defaults, Sovereign Debt Restructurings, Serial Debt Restructurings, International Lending and Debt Problems
JEL Classification: F34, G15, H63
Suggested Citation: Suggested Citation