Belize’s 2016–17 Sovereign Debt Restructuring – Third Time Lucky?
This paper examines the causes, process, and outcome of Belize’s 2016–17 sovereign debt restructuring – its third episode in last 10 years. As was the case in the earlier two restructurings, in 2006–07 and in 2012–13, the 2016–17 debt restructuring was executed through collaborative engagement with...
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| Format: | Article |
| Language: | English |
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University of Warsaw
2020-12-01
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| Series: | Journal of Banking and Financial Economics |
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| Online Access: | https://press.wz.uw.edu.pl/cgi/viewcontent.cgi?article=1035&context=jbfe |
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| author | Tamon Asonuma Michael G. Papaioannou Eriko Togo Bert van Selm |
| author_facet | Tamon Asonuma Michael G. Papaioannou Eriko Togo Bert van Selm |
| author_sort | Tamon Asonuma |
| collection | DOAJ |
| description | This paper examines the causes, process, and outcome of Belize’s 2016–17 sovereign debt restructuring – its third episode in last 10 years. As was the case in the earlier two restructurings, in 2006–07 and in 2012–13, the 2016–17 debt restructuring was executed through collaborative engagement with creditors outside an IMF-supported program. While providing liquidity relief and partially addressing long-term debt sustainability concerns, the restructuring will need to be underpinned by ambitious fiscal consolidation and growth-enhancing structural reforms to secure durable gains and avoid future debt distress situations. |
| format | Article |
| id | doaj-art-8b0761163ab04c4c8b590fcdfc6fbc77 |
| institution | Kabale University |
| issn | 2353-6845 |
| language | English |
| publishDate | 2020-12-01 |
| publisher | University of Warsaw |
| record_format | Article |
| series | Journal of Banking and Financial Economics |
| spelling | doaj-art-8b0761163ab04c4c8b590fcdfc6fbc772025-01-03T01:18:10ZengUniversity of WarsawJournal of Banking and Financial Economics2353-68452020-12-0120202476710.7172/2353-6845.jbfe.2020.2.4Belize’s 2016–17 Sovereign Debt Restructuring – Third Time Lucky?Tamon Asonuma0https://orcid.org/0000-0002-2258-3249 Michael G. Papaioannou1https://orcid.org/0000-0003-2420-8319Eriko Togo2https://orcid.org/0000-0001-6688-7650 Bert van Selm3https://orcid.org/0000-0002-8064-2833International Monetary Fund International Monetary Fund International Monetary Fund International Monetary Fund This paper examines the causes, process, and outcome of Belize’s 2016–17 sovereign debt restructuring – its third episode in last 10 years. As was the case in the earlier two restructurings, in 2006–07 and in 2012–13, the 2016–17 debt restructuring was executed through collaborative engagement with creditors outside an IMF-supported program. While providing liquidity relief and partially addressing long-term debt sustainability concerns, the restructuring will need to be underpinned by ambitious fiscal consolidation and growth-enhancing structural reforms to secure durable gains and avoid future debt distress situations.https://press.wz.uw.edu.pl/cgi/viewcontent.cgi?article=1035&context=jbfesovereign debtsovereign defaultssovereign debt restructuringsserial debt restructuringsbelize |
| spellingShingle | Tamon Asonuma Michael G. Papaioannou Eriko Togo Bert van Selm Belize’s 2016–17 Sovereign Debt Restructuring – Third Time Lucky? Journal of Banking and Financial Economics sovereign debt sovereign defaults sovereign debt restructurings serial debt restructurings belize |
| title | Belize’s 2016–17 Sovereign Debt Restructuring – Third Time Lucky? |
| title_full | Belize’s 2016–17 Sovereign Debt Restructuring – Third Time Lucky? |
| title_fullStr | Belize’s 2016–17 Sovereign Debt Restructuring – Third Time Lucky? |
| title_full_unstemmed | Belize’s 2016–17 Sovereign Debt Restructuring – Third Time Lucky? |
| title_short | Belize’s 2016–17 Sovereign Debt Restructuring – Third Time Lucky? |
| title_sort | belize s 2016 17 sovereign debt restructuring third time lucky |
| topic | sovereign debt sovereign defaults sovereign debt restructurings serial debt restructurings belize |
| url | https://press.wz.uw.edu.pl/cgi/viewcontent.cgi?article=1035&context=jbfe |
| work_keys_str_mv | AT tamonasonuma belizes201617sovereigndebtrestructuringthirdtimelucky AT michaelgpapaioannou belizes201617sovereigndebtrestructuringthirdtimelucky AT erikotogo belizes201617sovereigndebtrestructuringthirdtimelucky AT bertvanselm belizes201617sovereigndebtrestructuringthirdtimelucky |