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Mar 8, 2017

P.U.P. Throws Cold Water on New Arrangements

The People’s United Party was quick to respond to the Prime Minister’s latest press conference calling it nothing more than a ‘smoke and mirrors’ presentation. According to the release, Barrow and his anointed financial pundits spent much time today lauding themselves for what is nothing more than an attempt to clean up the U.D.P.’s own mess from the previous restructuring failure. The P.U.P. says that “the government has done nothing more than kick the can down the road, indebting Belizeans for years to come, even after Barrow will have demited office. When comparing BarrowBond 2.0 and BarrowBond 3.0, there are absolutely no savings for the Belizean people…” It adds that, “the debt before the restructuring remains the same as after the restructuring.” The very insignificant savings in interest evaporates when the consent fee, payment to bondholders committee and payment to local advisors are factored in.

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