3 Min Read
LONDON (Reuters) - Suriname Eurobond creditors accused the government on Friday of breaching its obligation of negotiating its debt overhaul in good faith and threatened to reinstate payments they previously agreed to defer.
Suriname, battling high inflation and the economic fallout of the coronavirus pandemic, accused the bondholder committee of making false statements and urged it to “reconsider this ill-informed course of action.”
Creditors last month agreed to defer payments on $675 million in bonds, but on Friday said Suriname had not allowed them sufficient participation in a $690 million staff-level financing deal with the International Monetary Fund.
“The committee believes that Suriname has already breached its obligation to negotiate in good faith, as required by the terms of the Eurobonds,” the creditors said in a statement.
3 Min Read
LONDON (Reuters) - Suriname Eurobond creditors accused the government on Friday of breaching its obligation of negotiating its debt overhaul in good faith and threatened to reinstate payments they previously agreed to defer.
Suriname, battling high inflation and the economic fallout of the coronavirus pandemic, accused the bondholder committee of making false statements and urged it to “reconsider this ill-informed course of action.”
Creditors last month agreed to defer payments on $675 million in bonds, but on Friday said Suriname had not allowed them sufficient participation in a $690 million staff-level financing deal with the International Monetary Fund.
“The committee believes that Suriname has already breached its obligation to negotiate in good faith, as required by the terms of the Eurobonds,” the creditors said in a statement.
3 Min Read
LONDON (Reuters) - Suriname Eurobond creditors accused the government on Friday of breaching its obligation of negotiating its debt overhaul in good faith and threatened to reinstate payments they previously agreed to defer.
Suriname, battling high inflation and the economic fallout of the coronavirus pandemic, accused the bondholder committee of making false statements and urged it to “reconsider this ill-informed course of action.”
Creditors last month agreed to defer payments on $675 million in bonds, but on Friday said Suriname had not allowed them sufficient participation in a $690 million staff-level financing deal with the International Monetary Fund.
“The committee believes that Suriname has already breached its obligation to negotiate in good faith, as required by the terms of the Eurobonds,” the creditors said in a statement.