Standards & Poors to Downgrade Belize’s Credit Rating
Meanwhile Standards and Poors is expected to downgrade Belize in its credit rating from a ‘B’ to a C.C.C. plus. The downgrade is due to government’s inability to meet financing requirements which are impaired by fiscal and external funding, reduced foreign exchange reserves and loss of correspondent banking relationships. S and P also projects government debt to rise to eighty-one percent of GDP this year.
