Revelation 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"
“…the manipulation of money and goods is soon to be revealed as the main method of control imposed upon society by the Antichrist.”
-Jim Bakker in “Prosperity and the Coming Apocalypse”
Belize, a nation located on the Caribbean Sea bordering Mexico and Guatemala, won a 60 day reprieve after making a bond payment, holding a full national default on debt at bay.
The nation paid $11.7 million to their creditors which fell short of the total $23 million due on debt interest that was due on Wednesday. The bondholders accepted the partial payment and said that they would delay taking legal action.
Ratings service Standard and Poor’s still downgraded Belize and listed the nation as in “selective default” just one step above full default.
Belize’s economy is dependent on tourism and has suffered a severe downturn in visitors during the worldwide economic slump. The nation had taken out a $550 million “superbond” that they have been unable to pay debt service on during the last few years.
The bond is due in 2029 but the government is asking to extend the term over 50 years and lower the interest rate to 2% from 8.5%. The government also asked creditors to consider writing off 45% of the total debt. Bondholders did not respond favorably to the request.
