BELIZE-ECONOMY-Parliament gives nod to restructured super-bond

BELMOPAN, Belize, CMC – Parliament has given the nod to the terms of a restructured one billion dollar (One Belize dollar = US$0.49 cents) super-bond even as opposition legislators complained of the “arrogant and reckless” position of the government and being kept in the dark over the new initiative. Prime Minister Dean Barrow, who last December said that an agreement had been reached with the creditors, told Parliament the new maturity date for the super-bond is 2038, “nine years more than the current maturity under the super-bond which expires in 2029.” He said that the new bonds have a maturity trajectory of 25 years and a second “key” feature is a 10 per cent principal haircut off the top.