Belize is the smallest country in Central America, that he was just on the verge of default reported The Wall Street Journal. The state requires lenders to forgive almost half of its debt - that is 45%.
Otherwise Belize fifteen years suspended payments on public debt. The government on August 20 creditors should return 23.1 million U.S. dollars, but if it does not reach a preliminary agreement that the funds do not go anywhere.
Belize creditors an ultimatum just before September 19. The government in this day is going to default on all debt of $ 543.8 million. This waiver will be the first payment in the world since March, when the EU support Greece ordered the holders of its own bonds to accept the loss fifty-three and a half percent of their own funds.
Besides all this, the authorities are guided by Argentina, where relatively high prices for raw materials helped recover well known to all the default in 2001.
To this day, the creditors of Belize's refusal to pay the notice is not received.
Belize - one of the richest countries in Central America. But his economy is largely tied to tourism, from a revenue declined very sharply after the global financial crisis took place in 2008.