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Elrington: Belize Can Be Relieved about Superbond

Back to the issue of the super bond…It’s restructuring has been balked at by the Opposition who criticize it as nothing more than smoke and mirrors.  Reproach aside, when we [...]

An ‘Alternative’ View of Superbond 3.0 from P.U.P.

The People’s United Party has offered a quick response to Wednesday’s analysis of the restructuring of the Superbond by the Prime Minister.  P.U.P. Leader John Briceño says that it isn’t [...]

How Will G.O.B. Get Tax Monies for Budget?

Briceño was joined by attorney Christopher Coye to explain the implications for Belize’s economy. The Prime Minister insisted on Wednesday that Belize would never enter into any stand-by arrangement, much [...]

P.M. Stands Firm on Action over Arbitration

PM Barrow is on record stating that as long as he is head of cabinet, government will not pay a single cent towards the US judgment recently handed down in [...]

Prime Minister Sceptical About Settlement

According to the Prime Minister, it appears that Lord Michael Ashcroft finds himself in a jam as a result of the recently passed legislation.  In an effort to recover the [...]

Deputy Faber Endorses Superbond Fix

Deputy Prime Minister Patrick Faber has his eyes set on becoming leader of the country.  To achieve that dream, he will first have to succeed in representing the United Democratic [...]

P.M. Touts Savings of New Superbond to Honor G.O.B. Commitments

Since Friday, there was indication that the creditor committee representing bondholders had accepted the latest offer by Government for the restructuring of the Super Bond. Prime Minister Dean Barrow this [...]

Further Savings Result from Elimination of Early Amortization Payments

Government did not meet the February payment in light of the ongoing restructuring.  And according to the Prime Minister, the big saving is in the amortization, which was set to [...]

Payments on Principal Put Off to 2030

Going forward, government will make repayments on the principal.  It will, however, have to make five soft bullet payments leading up to the maturity of the bond in 2034.  Those [...]

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 [...]

Belize Will Not Give Up Oil and Utilities; Resists Full I.M.F. Program

Turning back to the Super Bond, the proposed sale of shares in B.T.L. and B.E.L. also caught the eyes of bondholders during the renegotiation process.  According to PM Barrow, creditors [...]

Barrow Promises No Stand-By Arrangements with I.M.F.

According to the Prime Minister, the involvement of the I.M.F., as a condition of the proposal being approved, is nothing earth-shattering since government meets with the financial agency annually to [...]

FinSec: Limited Taxes Will Form Part of Growth Arrangement

Financial Secretary Joseph Waight has also weighed in on the successful outcome of the Super Bond renegotiation.  He spoke directly to the need for additional tax measures to be implemented.  [...]

Superbond Negotiations Conclude; Adviser Says Result is “Win-Win”

Belize and holders of the Superbond have hammered out an agreement to restructure the terms of the notes for the third time in a decade.  After months of negotiations, a [...]

Belize Must Pay Outstanding Coupon, Have I.M.F. on Stand-By

In its daily news release, the Government gives all credit to the Prime Minister for cutting a deal which it say puts the country in a much better position to [...]

Premium Fuel Takes a Hike – More to Come?

The cost of fuel has increased for the second time in less than one week, particularly for premium fuel. At midnight Friday, a nineteen-cent increase went into effect for premium [...]

G.O.B. Heavily Revises Terms of Superbond Negotiation in Major Concession to Bondholders

We begin with breaking news. Just before news time, the Central Bank of Belize released a statement confirming major and extensive revisions to the Government of Belize’s proposal to restructure [...]

Belmopan Goes for Municipal Bond

The Belmopan City Council is looking for investors for its six-point-five million dollar municipal bond. They are hoping to do some major works and upgrades in the Capital – but [...]

Superbond Consent Offer Extended Again; S&P Sceptical, Lowers Ratings

Earlier this week, the Government of Belize announced deferral of the coupon payment of almost twenty-six million Belize dollars to holders of the Belize 2038 Bonds. Officially, the plan is [...]

Ashcroft Says Investors May Turn Away from Belize without Security

Turning to the current state of the economy…Lord Michael Ashcroft says that Belize has not shown the promise engendered by the various monies spent here over the last decade or [...]

Chamber of Commerce Sore over Superbond

The unpaid national debt that looms over Belize’s fragile economy continues to be a matter of concern in various sectors, including the business community.  On Thursday, the Belize Chamber of [...]

Lord Michael Ashcroft Makes Dire Predictions About Superbond

A News Five team is in Washington where an exclusive interview was conducted earlier today with Lord Michael Ashcroft.  A number of issues of national importance were discussed during the [...]

Lord Ashcroft Says Sale of Utility Shares May Help

Lord Ashcroft also commented on the possible privatization of the utility companies.  In his view, while it will be difficult to get investors to purchase minority shares; the sale of [...]

Government Risks Debilitating Consequences with Superbond Delay

Government’s inability to make the twenty-six million dollar Super Bond payment that became due on Monday comes as no surprise to the Opposition.  In fact, default on the debt obligation [...]

Major Recession Hurting Belizean Economy

Briceño’s premise hinges on the fact that the owners of the bond have put in place stringent conditions that, should government fail to pay the interest, taxpayers will be saddled [...]