PM Barrow meets with Belize’s Superbond negotiating team Print E-mail
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Thursday, 16 February 2017 00:00

Belize’s Superbond negotiating team is preparing for a meeting with the bondholder’s committee in the days leading up to the due date for an interest payment on the loan on February 20. A payment of approximately $52.6 million is due on this date but Government is hoping to reach an agreement for restructure prior to this deadline. It has issued an extension on the deadline for bondholders to agree to its restructure proposal up to February 24, four days beyond the interest payment due date. This extension puts the possibility of default on the negotiating table and before both sides meet Prime Minister Barrow wants to ensure that Team Belize is on message.

Belize’s team includes Ambassador Mark Espat, Financial Secretary Joseph Waight, attorney Lee Buchheit and advisors from CitiGroup. Prime Minister Barrow gives the final nod on the position put forth to the bondholders by this team. His visit is usually not to meet with bondholders but to ensure that the team is on the same page ahead of its meetings. He is expected to return on Sunday, February 19, and brief the nation on any new developments shortly after.

During Prime Minister Barrow’s absence, Deputy Prime Minister Patrick Faber will act as Prime Minister.