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  • Speaker Of The House Signs MOU With FOPREL And SICA

    Friday, 07 September 2018 02:44
  • New International Flight Headed To Belize

    Friday, 07 September 2018 02:46
  • 224 Farmers Graduate From Farmers Field School

    Friday, 07 September 2018 03:09

moodysBelize is in danger of bankruptcy and default. Well, that is what a report from the rating agency Moody’s Investors Service and reported on by the Hot Stock Market and Financial Message Board, says. The report says that already Argentina has defaulted on its debt, according to rating agency Standard & Poor’s. But that country is not alone in its struggle to pay debts in recent years. Moody’s reports that some elven countries are at risk of default, quote, “ranging from Greece and Ukraine in Europe, to Pakistan in Asia, to Ecuador, Venezuela, and Belize in South America. These nations also suffer from vastly different problems. Some nations, such as Ukraine and Egypt, owe their recent downgrades to political conditions. Others, such as Belize and Ecuador, have actually been upgraded in recent years based on their improved financial positions,” unquote.

For Belize events such as the expected repayment of compensation for nationalization of public utilities and continued debt servicing on the “Superbond” would wipe out continued economic growth. Other reports on the matter indicate that quote, “Government debt in 2015 is 75.7% of GDP. The report notes that total debt of $540 million was mostly borrowed for infrastructure projects, and that an inability to make a $23 million bond payment three years ago this month prompted a steady decline in credit ratings, which only recovered following restructuring of the debt undertaken by Prime Minister Dean Barrow in his second administration,” unquote.

The Hot Stock Market report states that quote, “Often, countries that tap into international bond markets do so in other currencies. This means that investors do not need to worry as much about their investment losing value. In fact, inflation is a major problem in several of the countries with the worst credit ratings. In one such nation, Venezuela, inflation is expected to exceed 50% in 2014, according to the IMF,” unquote.

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