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#19841 - 10/27/05 11:17 PM Moody's Downgrades Belize  
Joined: Oct 1999
Posts: 55,663
Marty Offline
Marty  Offline
More Confidence Lost: Moody's Downgrades Belize
October 26, 2005

With a debt burden which experts predict will become increasingly unmanageable in the next two years, Belize has indicated to the international community that it wishes to re-profile its entire stock of debt. And by most accounts, that's not just an option, it's a necessity. Well, it just got that much harder today when Moody's Investor Service downgraded Belize. The rating for foreign currency bonds were taken down from b3 to caa3, foreign currency deposits from caa1 to caa3, and local currency from b3 to caa3.

What does all that mean? By the reckoning of Moody's analysts, Belize's fiscal imbalances could threaten the country's economic stability it also spooks commercial creditors by judging that there is a, "heightened risk that they could experience considerable losses when Belize restructures its debt." Coming just short of warning of a default, Moody's release points to the possibility of "a disorderly restructuring of debt obligations." Local analysts point out that "disorder" is an ominous term in international banking and it could be that the only way to un-spook jumpy bankers is to enlist the IMF's support to ensure more orderly debt management.

#19842 - 10/28/05 02:19 PM Re: Moody's Downgrades Belize  
Joined: Apr 2000
Posts: 4,258
Laguna Punta Offline
Laguna Punta  Offline
...Moody Blues frown frown

Gone fishing!!
#19843 - 10/28/05 07:05 PM Re: Moody's Downgrades Belize  
Joined: Jan 2001
Posts: 289
curious why this was posted here? anyway what does this mean to us the occasional traveler to bze-hope we can stil see friends and places without burden????????????

#19844 - 10/28/05 07:11 PM Re: Moody's Downgrades Belize  
Joined: Mar 2001
Posts: 11,001
klcman Offline
klcman  Offline
you can Duane, it's just likely that in the future you may be paying more

_ _ _ _ _ _ _________________ _ _ _ _ _ _
But then what do I know, I am but a mere caveman
#19845 - 10/28/05 07:13 PM Re: Moody's Downgrades Belize  
Joined: Apr 2000
Posts: 8,868
SP Daily Offline
SP Daily  Offline
Probably doesn't mean anything to you as an occasional visitor but cetainly does to anyone who lives here and has business here.

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