International Financial Securities Regulatory Commission: Joint Press Release
Joint Press Release OF BELIZE INTERNATIONAL FINANCIAL SERVICES COMMISSION AND BELIZE INTERNATIONAL FINANCIAL SERVICES ASSOCIATION As many of you may be aware, the Government of Belize is currently undertaking a fiscal debt restructuring exercise. With the global economic recession and the continuing economic lethargy, many countries have experienced a substantially increased fiscal debt burden. Over the past several years, while Belize has fared better than many including within the Caribbean and Central American region in weathering the recession, growth has largely remained stunted resulting in lower than expected tax revenues. The result is that the Government believes that the fiscal debt is not on a sustainable trajectory and that it is in the country’s long-term best interest that the restructuring is done to make it sustainable. This is the second debt restructuring exercise by the Government. The first was successfully completed in early 2007.
Published Tuesday, August 23, 2016 by Anthony Evans
2 pages