Belize's governing party 'wins second term'

map of Belize

Related Stories

Belize's governing United Democratic Party has won a narrow election victory, preliminary results indicate.

The UNDP took 17 seats to the opposition People's United Party (PUP) 14, Reuters quoted the chief election officer as saying.

Official results are expected later on Thursday.

Belize is one of the world's most indebted nations and Prime Minister Dean Barrow said he would renegotiate the terms of a $550m (£348m) bond.

The opposition had said it would meet debt obligations by boosting the $1.25bn economy, which is largely dependent on tourism.

Under the current schedule of rising interest rates, Belize is set to repay $46m over the next year.

Ratings agencies have already downgraded its credit rating to "junk" status.

New debt restructuring could damage the country's economic reputation further, correspondents say.

In the last parliament, Mr Barrow's party held 25 of the 31 seats.

More on This Story

Related Stories

More Latin America & Caribbean stories

RSS

Features

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.