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Jan 17, 2017

The Solution to Fixing Superbond is More Complex for Bondholders

The Committee is not advocating a particular solution, preferring to negotiate with Belize on the basis of debt relief in the medium-term. It wants a strong and credible medium-term program of fiscal and structural adjustment to promote economic growth and reduce crisis risk; and reasonable mechanisms to assure that the adjustment program will be delivered. Charles Blitzer outlines the Committee’s concerns in that regard and what it wants from the Government.


On the Phone: Charles Blitzer, Blitzer Consulting

“What we are proposing is a roadmap to go forward, and think of it as a recipe for baking a cake: if you don’t put all the ingredients in and you put the cake in the oven too soon, prematurely, then it’s not gonna work. And where we think we have to go, and we have been suggesting to the Government, is with more information on what their plans are; more evidence on what they’re planning to do is sufficient in bringing down crisis risk sufficiently, so that this won’t happen again; and that what’s being asked of the creditors is sufficient, but no more than is necessary for these objectives.”

Viewers please note: This Internet newscast is a verbatim transcript of our evening television newscast. Where speakers use Kriol, we attempt to faithfully reproduce the quotes using a standard spelling system.

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