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Jun 16, 2011

Standard and Poors: Belize ranks 9 in list of countries least likely to pay debts

In other news of a financial nature, Standard and Poor’s, an international credit rating agency, released its 2011 report on Wednesday. Credit ratings are an evaluation of a country’s ability to meet its debt obligations in full and within the prescribed time. They also heavily influence the decisions of investors and investment bankers. So how does Belize rate? According to S and P, the Jewel gets a B, which is considered a speculative grade. A “B” also means the country is “more vulnerable to adverse business, financial and economic conditions but currently has the capacity to meet financial commitments.” That doesn’t sound too damning, but S and P also lists Belize at number nine on the top ten countries that are least likely to pay its debts. Jamaica and Grenada also ranked among the ten countries. According to a financial analyst, Belize’s classification could deteriorate even further since compensation for Telemedia has not been paid and if the government takes control of B.E.L., Belize’s debt obligations could spiral up even more.  You can view the full text of the release sat www dot standard and poors dot com

Viewers please note: This Internet newscast is a verbatim transcript of our evening television newscast. Where speakers use Kriol, we attempt to faithfully reproduce the quotes using a standard spelling system.

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8 Responses for “Standard and Poors: Belize ranks 9 in list of countries least likely to pay debts”

  1. Charlie Price says:

    It’s because we have POOR STANDARDS???????

  2. wisdom says:

    No one really cares what S&P has to say. The world’s number one economy, the U.S., is thinking about defaulting on its huge dept to China, so why should we the poor countries care. Tell them to @$$#$ the U.S. Hypocrites.

  3. British belizean says:

    A country is no different from a household. If you spend more than your income, eventually you will go broke. Our sucessive PUP and UDP Governments have relied on borrowing and borrowing and borrowing to pay for everything and , sadly, to pay for a lot of things that enrich the ministers and their cronies and not the people. And the voters don’t even seem to care.
    Now we have to pay the price.

  4. Rod says:

    We are going to the dogs under this pm and gov. Everything is in the drain please resign barrow do the country and the people of Belize a favor and resign admit you are a total failure at this job .

  5. Justice says:

    Instaed of paying debts, money is passed on to the PMs family so what rating do we expect!

  6. subKonshus says:

    The fundamental problem in Belize is that the policies taken by the present government do not support or encourage manufacturing of goods with a view to keep our dollars at home. They believe solely in importation. So much so, that all of their campaign financing come from supporters who are major importers. The best way to bounce back during any recession is to manufacture your own goods so as to keep your dollars circulating in your economy. It does not take a financial analyst to figure that out. Where is the brains amongst the Barrow Administration. John Saldivar is probably sitting on it!

  7. Crazy says:

    Wisdom… that’s why you are stupid. If the US is thinking about defaulting on its huge debt to China why is it that the dollar, US Dollar, is still the dominating currency? Let me help you young skywalker, the us dollar is paid for everything fuel, food, import and any export. The US is smart and believe me they will not default hence why they are the most domination country. Take some economics and maybe you will understand. Ohh and by the way S&P does factor where you stand and if you are guarantee a loan from the world bank!

  8. wisdom says:

    Crazy learn to use proper grammer, then get back to me.

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