Ruling Party to Initiate Bond Talks

Belize’s centrist ruling party won a second term in power on Thursday, moving the tiny Central American country closer to a renegotiation of its $550 million overseas debt.The ruling United Democratic Party (UDP) won a narrow majority in parliament, winning 17 seats in the 31-seat body while the opposition People’s United Party won 14, chief elections officer Josephine Tamai said, leaving the UDP well short of the 25-to-6 advantage it enjoyed in its first term.Prime Minister Dean Barrow said before the vote that if re-elected his first act would be to obtain more favorable terms for Belize’s so-called superbond, which makes up half of the country’s debt and is equivalent to 40 percent of its gross domestic product.

Belize steps closer to bond talks with ruling party win

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