RUMOR MILL, is warning that PM Barrow expects to be re-elected and while Belize can pay the escalating payments on the so called SUPER BOND for this year 2012. THAT IT IS IN THE CARDS THAT BONDHOLDERS WILL BE ASKED TO RE-STRUCTURE. FAILING THAT, AT SOME PÒINT PAYMENTS OTHERWISE WILL SIMPLY COLLAPSE.
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QUOTE FROM bz-culture listserve debates
Prime Minister Barrow:
“When there is a downgrade to some extent it signals to the bond holders
that they might want to start thinking of coming to terms with the
government since for their purposes, the intent of the downgrade is to show
that unless there is a restructuring of the super bond, Belize might want
to contemplate the option of saying either that it can’t pay or it won’t
pay. I need to make clear that while the step up to the 8.5% occurs this
year, in August, we have the monies to pay the February installment and we
have the monies to pay the August installment, there is no difficulty there
but I do want to say that as the analysis indicate, we will be talking to
the international community, talking to the bond holders to say that sooner
or later there has to be a restructuring. If you think far ahead and you
think of 2019 when you begin to look at a principal repayment, it’ s not
going to happen, it can’t happen...."
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