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Dec 31, 2002

Belize goes to “stable” status in S and P ratings

The big news from the economic front this week is that the Standard and Poors Rating Service has given Belize a new report card…and it looks good. According to a government release, the S and P has completed its yearly review of several Latin American and Caribbean countries and decided that Belize is no longer a “negative” and ranked us as “stable”. The long term foreign currency sovereign credit rating was also changed from a BB minus to a B plus. But on the downside, the long term local currency sovereign rating was changed from a BB to a BB minus. Government says it is optimistic that its fiscal plans and cutbacks on spending for the new year will continue to stabilize the economy.

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