98.1% - that's the near record subscription rate for the Superbond. That means that almost all of those international investors who held Belizean notes have agreed to swap them for the new Superbond offering.
It's a major success for Belize's money managers, but for the average Belizean, it's just the difference between prolonged austerity and bone grinding hard times.
Still, the international investment community is volleying bouquets. Today Standard and Poors announced that it was upgrading Belize from selective default to a "B" rating.
The report notes improved fiscal performance and a declining deficit.
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Belize
Standard and Poors
