The international rating agency Standard and Poors has downgraded its rating for Belize from stable to negative.
The first downgrade came months ago when government first acquired BEL, but was just made official yesterday.
It says there are, quote, "diminishing political incentives to service Belize's external debt."
S and P noted rising crime, public-sector wage pressures and budget constraints which they say may reduce political incentives to pay debt service.
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