Sovereign Debt Restructurings in Belize: Achievements and Challenges Ahead
This paper examines the causes, processes, and outcomes of the two Belize sovereign debt restructurings in 2006-07 and in 2012-13 that occurred outside of an IMF-supported program. It finds that the motivation for the two debt restructurings differed, as the former was driven by external liquidity c...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2014
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 14/132 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | This paper examines the causes, processes, and outcomes of the two Belize sovereign debt restructurings in 2006-07 and in 2012-13 that occurred outside of an IMF-supported program. It finds that the motivation for the two debt restructurings differed, as the former was driven by external liquidity concerns while the latter was motivated by a substantial increase in the coupon rates and future fiscal solvency concerns. Despite differential treatment between residents and non-residents, both 2006-07 and 2012-13 debt exchanges were executed through collaborative engagement, due in part to the existence of a broad-based creditor committee and the authorities' effective communication strategy. However, while providing temporary liquidity relief, neither of the debt restructurings properly addressed long-term debt sustainability concerns. Going forward, the success of the 2012-13 debt restructuring will still depend on the country's ability to strengthen fiscal efforts and public debt management framework |
| Beschreibung: | 1 Online-Ressource (28 p) |
| ISBN: | 1498369510 9781498369510 |
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| id | DE-604.BV048354915 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:35Z |
| indexdate | 2024-07-10T09:35:45Z |
| institution | BVB |
| isbn | 1498369510 9781498369510 |
| language | English |
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| oclc_num | 1337133496 |
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| physical | 1 Online-Ressource (28 p) |
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| publishDate | 2014 |
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| publishDateSort | 2014 |
| publisher | International Monetary Fund |
| record_format | marc |
| series2 | IMF Working Papers |
| spelling | Asonuma, Tamon Verfasser aut Sovereign Debt Restructurings in Belize Achievements and Challenges Ahead Asonuma, Tamon Washington, D.C International Monetary Fund 2014 1 Online-Ressource (28 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 14/132 This paper examines the causes, processes, and outcomes of the two Belize sovereign debt restructurings in 2006-07 and in 2012-13 that occurred outside of an IMF-supported program. It finds that the motivation for the two debt restructurings differed, as the former was driven by external liquidity concerns while the latter was motivated by a substantial increase in the coupon rates and future fiscal solvency concerns. Despite differential treatment between residents and non-residents, both 2006-07 and 2012-13 debt exchanges were executed through collaborative engagement, due in part to the existence of a broad-based creditor committee and the authorities' effective communication strategy. However, while providing temporary liquidity relief, neither of the debt restructurings properly addressed long-term debt sustainability concerns. Going forward, the success of the 2012-13 debt restructuring will still depend on the country's ability to strengthen fiscal efforts and public debt management framework Online-Ausg Peraza, Gerardo Sonstige oth Tsuda, Takahiro Sonstige oth Vitola, Kristine Sonstige oth http://elibrary.imf.org/view/IMF001/21513-9781498369510/21513-9781498369510/21513-9781498369510.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Asonuma, Tamon Sovereign Debt Restructurings in Belize Achievements and Challenges Ahead |
| title | Sovereign Debt Restructurings in Belize Achievements and Challenges Ahead |
| title_auth | Sovereign Debt Restructurings in Belize Achievements and Challenges Ahead |
| title_exact_search | Sovereign Debt Restructurings in Belize Achievements and Challenges Ahead |
| title_exact_search_txtP | Sovereign Debt Restructurings in Belize Achievements and Challenges Ahead |
| title_full | Sovereign Debt Restructurings in Belize Achievements and Challenges Ahead Asonuma, Tamon |
| title_fullStr | Sovereign Debt Restructurings in Belize Achievements and Challenges Ahead Asonuma, Tamon |
| title_full_unstemmed | Sovereign Debt Restructurings in Belize Achievements and Challenges Ahead Asonuma, Tamon |
| title_short | Sovereign Debt Restructurings in Belize |
| title_sort | sovereign debt restructurings in belize achievements and challenges ahead |
| title_sub | Achievements and Challenges Ahead |
| url | http://elibrary.imf.org/view/IMF001/21513-9781498369510/21513-9781498369510/21513-9781498369510.xml |
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