Xate Blooming In The Forest Reserve

Tonight, there is some good news coming out of the Chiquibul National Park as the Friends for Conser...

Price for Regular Gasoline and Kerosene Reduce

As of mid-night tonight, prices for Regular Gasoline and Kerosene will see reductions at the pumps. ...

Well Known City Figure Charged For Courts Robbery In Corozal

Also arraigned at the Magistrate’s Court today was known city figure Samuel Halliday, who turned 26 ...

Ambassadors Present Credentials To Governor General

Four ambassadors presented their Letters of Credence today to the Governor General of Belize His Exc...

Preliminary Figures For Re-Registration Released

Today marks the start of week two in the mass re-registration exercise here in the Jewel. As the pro...

  • Xate Blooming In The Forest Reserve

    Tuesday, 10 July 2018 01:56
  • Price for Regular Gasoline and Kerosene Reduce

    Tuesday, 10 July 2018 02:02
  • Well Known City Figure Charged For Courts Robbery In Corozal

    Tuesday, 10 July 2018 02:07
  • Ambassadors Present Credentials To Governor General

    Tuesday, 10 July 2018 02:14
  • Preliminary Figures For Re-Registration Released

    Tuesday, 10 July 2018 02:22

There are no updates tonight on the Government’s attempts to renegotiate the Superbond even after its consent solicitation expired on Monday with no indication that it had been accepted by bondholders. Information to the public has been seldom, as the Government tries to sway the bondholders to agree to new terms before a 30 day grace period ends on March 22nd. Today we asked Business Senator Mark Lizarraga to discuss how he sees the issue of national concern unfolding.


Screen_Shot_2017-03-01_at_6.59.21_PMMark Lizarraga, Business Senator


“I continue to question what motivation the bondholders would really have to renegotiate unless it is on their benefit there is a penalty clause that will kick in if we default so there is really in my view at least great difficulty in trying to see what motivation the bondholders will have, we have not complied with the spirit of the precious renegotiation, we have not put our monies to good use, we have not done what we said we were going to do so why would we expect the bondholders to listen to us and say oh yes you are credible let’s sit down and try work this out it escapes me as to what motives they would really have to want to renegotiate.”


Reporter


“You have said that the stakes and the risks are much higher for Belize, explain on that?”


Mark Lizarraga, Business Senator


“Of course, tremendously I mean we are in really, really, really in bad shape and I think most of it is our own making, yes we had a hurricane that had some impact but that impact would predominantly on the private sector I should say if you compare the numbers on the private sector loses as to what government really loss I think the private sector losses far outweigh but the private sector continues to struggle we can’t continue to raise our prices to recoup it is the same fashion you know government is attempting to raise taxes to recoup we have to become more efficient we have to get back into the game so I believe that yes there are many, many, many grave issues that are affecting our economy and our country and I hope that people will begin to realize that a great part of the issues that we face stems from the lack of accountability and transparency in the way we handle and account for the people’s money.”

 

The Government’s superbond renegotiations are led by economic advisor Mark Espat and a host of financial and legal experts from the United States.

Share this post

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