Belize government almost completes superbond renegotiation

Last week, Prime Minister of Belize Dean Barrow along with Co-chair of the SuperBond Creditor’s Committee A.J. Mediratta held a joint press conference where announced that the terms of the renegotiated superbond is almost complete. It became known that the general economic terms of the restructuring have been agreed.

Mediratta had personal discussions with the Prime Minister on some issues. Speaking at the press conference, he said that the negotiation process has now moved to becoming conciliatory, and noted that Belize wanted to pursue the negotiations in good faith.

Prime Minister did not name the exact terms of the renegotiated Superbond, but said that there are significant savings that will materialize as a result of the new terms. In 2012, they will be $US11mln, and in 2013 they will go up to US$33mln. In 2013-2017, the Belize government would realize cash flow savings of about US$118mln, and they would achieve up to US$247mln between 2013 and 2022.

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