"Belize is open to any reasonable, sustainable proposal" on restructuring its $1.1 billion of debt, Glenford Ysaguirre told AFP.

But he said the country's creditor committee had yet to set a time or place for talks, a week after defaulting on a bond payment.

"The authorities are still awaiting an invitation from them to discuss the indicative scenarios or any counter-offers," he said.

"We expect candid, good faith negotiations anchored in the facts and circumstances surrounding the sustainability of Belize's debt."

The country wants to get talks underway before missing another scheduled debt payment on September 19 and being called into default.

On August 21, Standard and Poor's called Belize in "selective default" on its debt a day after the country failed to make a $23 million payment.

The small central American country of 330,000, its economy heavily tourism-dependent, was not called in full default because it was already in talks with creditors to reschedule its debt.

Three days after missing the payment, Prime Minister Dean Barrow voiced confidence that the cash-strapped nation can renegotiate its borrowings.

"We are prepared to consider and discuss any proposal that creditors may wish to put on the table," he said.