Belize to default on $23m bond payment

Press Association
Dean Barrow
Dean Barrow

The leader of the Central American nation of Belize has said his country will not make a 23 million US dollar (£14.6 million) bond payment by the deadline.

The announcement by Prime Minister Dean Barrow brings Belize a step closer to formal default on a total debt of 544 million US dollars (£346 million).