Belize News
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The overgrown ruins of a 2,300-year- old Mayan Temple in Belize were partially destroyed by contractors who wanted to use the limestone bricks for gravel to build a village road, according to the National Institute of Culture and Heritage.
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Consolidated Water Co., a seawater desalination plant operator and developer in the Caribbean, reported a 60 percent increase in first-quarter profit, helped by a settlement over water delivered to the British Virgin Island government.
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Here is the genius of Qatar, the peanut-sized Persian Gulf state that provides material support to Hamas, the Muslim Brotherhood and possibly some of Syria’s jihadist rebel groups, in a single image: A two-cheeked kiss, in public, between Qatar’s second-most powerful man, the prime minister (and foreign minister), Sheikh Hamad bin Jassim bin Jaber Al Thani, and Haim Saban, the Israeli-American billionaire who funds, among other things, the Saban Center for Middle East Policy at the Brookings Institution.
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Belize’s creditors are betting the Central American country will improve its bond restructuring offer in order to maintain access to global debt markets. The government says it doesn’t need them.
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Belize is offering bondholders 20 cents on the dollar in a debt restructuring, worse than what Argentina gave creditors following its 2001 default, according to Bank of Nova Scotia and Citigroup Inc.
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Belize’s vow to restructure more than $500 million of dollar debt for the second time in five years has stoked the biggest bond decline in emerging markets. TCW Group Inc. is betting the rout has gone too far.
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Belize’s notes are the worst performers in emerging markets this month as the Central American nation’s budget deficit widens and concerns grow that the government will force holders of $544 million of bonds to take losses in a restructuring.
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Belize’s government proposed extending maturities and cutting the coupon on the country’s $544 million of defaulted debt as part of the Central American nation’s second debt restructuring since 2007.
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Philip McDonagh, Ireland’s ambassador to Russia, said recovering assets related to the Quinn family may help trade relations between the two nations.
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Argentina’s dollar bonds are extending the steepest losses in emerging markets after a U.S. appeals court rejected a request to rehear a case against holders of defaulted debt, increasing the likelihood the government will lose the battle.
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