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Oct 30, 2012

P.U.P. believes bond negotiation has stalled

Francis Fonseca

Earlier in the newscast we told you about the P.U.P.’s press conference that focused on crime and healthcare. During the Q and A session, Leader of the Opposition, Francis Fonseca fielded questions about the government’s bond negotiation with international creditors. Fonseca believes the government’s negotiation has stalled. Moreover he says that his Party has still not been apprised or consulted about the current state of the negotiation.


Francis Fonseca, Leader of the Opposition

“We are very, very concerned about this matter; as I said in my statement, the bond renegotiations, the restructuring appears to be stalled. That’s the best conclusion that we can reach at this point because there is no information being shared with the opposition. I can say that I have not been briefed on the matter by anybody in the government of Belize including the Prime Minister. In fact as you may know, when the Prime Minister was asked about this matter of consulting me—it may have been you who asked the question at his last press conference—he came up with this almost ridiculous response saying that if he included the opposition somehow we would be able to take credit for any success that was achieved. So I find that very puzzling as to why that is the government’s position on this matter. They have shared no information with us. As he said at that press conference and that was some time ago, he gave an assurance that there would be a briefing to the finance house committee; that’s several months ago. That has not taken place; there has been absolutely no briefing given to the finance committee of the House of Representative. There is no need for me to consult—this was what he said—with the opposition. I don’t need to brief them, but I will have the bond committee go before the finance committee of the House and brief them. That has not been done so we are very, very concern. This restructuring has very, very serious implications for the future growth and development of Belize. We are not hearing anything from our government. I know the Prime Minister went to meetings in Washington; he came back and gave some very brief comments on what took place. We understand, it is our information—and we have to be getting this information from outside of Belize. It is really disgraceful; we should be getting this information from our own government, instead we have to be relying on people outside of Belize and it was clear that the government’s proposals were rebuffed. Their attempts to get these various organizations to support some of the activities that they want to engage in were not supported. But we have heard nothing official from our government.”

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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3 Responses for “P.U.P. believes bond negotiation has stalled”

  1. I Belize it says:

    Current status: Belize is slightly above Greece on its bond (trust) rating. Below Greece are non rated countries like North Korea; untrusted governments nobody wants to put money into because they are corrupt.

    Greece has a lot of advantages over Belize, like a long history of educated people who invented coin money for gold currency, thousands of years ago. More importantly, Greece’s murder rate is 1.5 per 100,000; compared to Belize’s 40-55 per 100,000; people are scared to be killed buying food. Crime and corruption in Greece are not destroying their country. Greece has a long history to fall back on, they are struggling to manage their wealth and poverty, not killing itself.

    The bottom line for Belze is whether it can be trusted as a country, or only a den of thieves for suckers.

    Pride before the fall, and pride after the fall; not much else.

  2. sweet cheeks says:

    How the hell the opposition can speak on the superbond and what is going on with it when they were the ones that have us in the superbond mess. My josh if i were them i would be ashame to speak about the superbond. That is a topic they should stay away from.

  3. Gordon Smith says:

    The PUP was financially savvy to conceptualized consolidating all of Belize’s bond into one bulk payment which also included debts from the UDP Esquivel Administration. The concept of ‘bonds’ has become so attractive and enticing to this UDP government that this present Belize City UDP Mayor wants to float his own version.

    Miss lady, the PUP has every right to speak on any issue affecting this country including the inability of this government to re-negotiate the bond.

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