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Dec 12, 2016

Can Belize Make February Payment for Superbond? G.O.B. Won’t Say

Dean Barrow

On Friday, News Five spoke with Charles Blitzer, special advisor to the Belize Coordinating Committee.  During that interview he disclosed that bondholders have pored over government’s recent postings on Central Bank’s website and that they are studying those figures carefully.  While those online messages reflect poor economic conditions, there are serious concerns as to whether government will be able to meet the next tranche of interest payments due early next year.

 

Isani Cayetano

“There’s a schedule for February 2017 for another payment towards the Super Bond.  Is this the interest payment that you’re speaking of?  Where do we stand with regards to that?  Will the government be able to meet that payment?”

 

Prime Minister Dean Barrow

“That’s what I am saying, we are hoping, that is why we are pushing, we are hoping that by then we would have reached a point where we would have pretty much agreed on the restructuring and that would then overtake that payment.  In other words, if there are new terms that payment would be subsumed within those new terms.  It’s not a certainty that in fact we will conclude the negotiations by then but that is what we are aiming for, that is our objective.”

 

Government has acknowledged the date set for the February 2017 payment, but has gone no further in providing additional details.

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