The previous government implemented an economic adjustment program, with the aim of (1) increasing revenues, (2) decreasing public sector expenditures, (3) narrowing the fiscal deficit to 1% of GDP, (4) improving the balance of payments, and (5) increasing the country's foreign reserves. Belize's outstanding public debt at the end of June 2007 was U.S. $1.17 billion, an amount that is equivalent to approximately 90.4% of GDP. On January 31, 2007 the Government of Belize officially announced that the holders of Belize's public external commercial indebtedness agreed to exchange their existing claims against the country for new bonds to be issued by Belize maturing in 2029. Belize traditionally maintains a deep interest in the environment and sustainable development. A lack of government resources seriously hampers these goals. On other fronts, the government is working to improve its law enforcement capabilities. A longstanding territorial dispute with Guatemala continues, although cooperation between the two countries has increased in recent years across a wide spectrum of common interests, including trade and environment. Seeing itself as a bridge, Belize is actively involved with the Caribbean nations of CARICOM, and also has taken steps to work more closely with its Central American neighbors as a member of SICA (Central American Integration System).