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Belize gov't raises funds to pay 'super bond' holders

Published:Sunday | September 23, 2012 | 12:03 PM

The Belize government says it has been successful in raising funds to meet a partial payment of its multi-million dollar foreign debt, referred to as the “super bond”.

The announcement came in time for the country’s celebration of the 31st anniversary of its political independence. The Dean Barrow administration issued a statement on Friday indicating that it had been successful in raising the money required to make a partial payment of $11.7 million, which amounts to approximately 50 per cent of the interest payment due to bondholders.

In an immediate response, a committee representing a group of bondholders said it would not go to court for an additional 60 days to allow for the conclusion of negotiations on debt restructuring.