Bondholders of Belize's five hundred and fifty million U.S. dollar external debt have once again rejected government's proposal of new terms until a meeting is held among all parties. The creditor committee, comprised of GMO and Greylock of the United States and ABRDN of London, says the Briceno administration turned down the suggestion that they meet privately. They also said, "without any assurance that Belize is open to negotiations or discussions beyond its initial proposal which remains unacceptable to bondholders, the committee is not in a position to support the current consent solicitation."

In a release issued by the Ministry of Finance on June first, government sought to extend the expiration time of consent solicitation to Friday June eleventh, in order to make a coupon payment on October nineteenth, 2021. Last month, Standards and Poor indicated that it did not expect Belize to make it the scheduled coupon payment during the thirty-day grace period. The Super Bond which is a debt consolidation of five hundred and fifty million U.S. dollars is due in 2034.



Channel 5