Mary Hil R.C. School Benefits From Exchange Programme With Technology Based School In Mexico

An exchange programme between the Telesecundaria Jesus Martinez Ross, an academic institution in Qui...

Mary Hill School Tops PSE Results For The Corozal District

Today we also discussed this year’s PSE results and school performances with Principal Pech. Mar...

Brazen Assault, Robbery And Attempting Kidnaping In The Free Zone

There was a brazen assault, robbery and attempted kidnapping in the Corozal Free Zone this morning. ...

Elrington Comments On ICJ Developments

As we reported yesterday, the International Court of Justice made a formal announcement that it has ...

Elrington & Progresso Heights Go Before Court Of Appeal Over Company Affairs

Since 2010, Hon. Wilfred ‘Sedi’ Elrington has been involved in a legal wrangle with company Progress...

  • Mary Hil R.C. School Benefits From Exchange Programme With Technology Based School In Mexico

    Thursday, 13 June 2019 02:55
  • Mary Hill School Tops PSE Results For The Corozal District

    Thursday, 13 June 2019 03:01
  • Brazen Assault, Robbery And Attempting Kidnaping In The Free Zone

    Friday, 14 June 2019 02:15
  • Elrington Comments On ICJ Developments

    Friday, 14 June 2019 02:25
  • Elrington & Progresso Heights Go Before Court Of Appeal Over Company Affairs

    Friday, 14 June 2019 02:31

deanThe Barrow Administration’s plans for a third Superbond renegotiation has intensified with Prime Minister Dean Barrow returning to New York this week to hold further discussions with bond stakeholders. The Government’s team, led by senior advisor Ambassador Mark Espat, Minister Carla Barnett and Financial Secretary Joseph Waight have compiled a document to be presented to bondholders. That 22-page document paints the bleakest, grimmest picture on Belize’s economic state and outlook we’ve ever seen admitted by the Government.


The document is split into two main sections that look at economic conditions in the country and the Government’s inability to meet its debt obligations under the terms of the Superbond. Even the overview which isn’t part of the substantive presentation speaks of “Belize: An Imperiled Economy” in its title. Perhaps it sets the tone for what stakeholders shouldn’t expect when they probe further.


In the report, the Government puts forth economic data showing economic decline since 2012. It shows that the projected 5-6% GDP growth in 2014 never realised, and while a nominal 1% growth was predicted for 2016, the fact is that there will be a deep economic shrinkage.


The document also points to the widening deficit margins and the declining foreign exchange reserves. It notes that the payment of compensation to the owners of the nationalized companies are a significant factor. It then warns that additional payments in 2017 will further erode the nation’s foreign exchange assets.


Again, this is the most negative economic review we’ve seen from the Barrow Administration but it might not be so surprising since they are desperate for a Superbond renegotiation agreement. Any kind of agreement would only appear to produce positive results for Belizeans with temporary lowered payments which would provide a kind of breathing space for the Government, but in reality the interest for the debt would spike and the debt payment would be prolonged much further into future generations of Belizeans.

Share this post

This content has been locked. You can no longer post any comment.