Argentina-Style Default Not Belize’s Model, Prime Minister Says
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Belize hired the same law firm as Argentina when deciding to push for its second bond restructuring in five years. Prime Minister Dean Barrow wants the comparisons between the countries to end there.
Barrow sought yesterday to assuage the concerns of Greylock Capital Management, TCW Group Inc., and other holders of $544 million in bonds after it missed an Aug. 20 coupon payment. His administration is open to all restructuring proposals put forward by investors as long as they lead to “sustainable” debt payments for the $1.4 billion Central American economy, he said in a national address.