Foreign Affairs Minister Expresses Support for Superbond Renegotiation

Wilfred ‘Sedi’ Elrington

Both Heredia and Foreign Minister Wilfred Elrington concede that the issue of the Super Bond restructuring did not come up during the last meeting of the Cabinet.  While Elrington admits to being in the dark on the latest round of talks, he is confident that the outcome of the negotiation will be favorable to Belize.

Wilfred ‘Sedi’ Elrington, Minister of Foreign Affairs

“I really don’t have any specific details on that. Unfortunately, I was not in the country last week and so I don’t know what transpired at the Cabinet meeting and he left the country before I got back so certainly we never spoke before he left so that I cannot say what he is doing in New York. I can’t say because I really don’t know. However, I can say that I think it was his desire and intent to renegotiate the bond and that has got to be done in a very careful way cause creditors are not happy when it is being suggested to them that there has to be a renegotiation of the terms on which the loan was made. But the Prime Minister is very, very responsible; it is something that he is very concerned about and he will do everything to make sure that we are able to honor our obligations as we are required to do. I know that the Prime Minister had indicated publicly some time ago that it was his intention to make sure that he was able to deal properly with the debt obligation and that he would take whatever steps were necessary to make sure that in fact he was in a position to deal with it in a manner that would be favorable to the nation. I think that is basically what’s his intent and his declared intent. He said that some weeks, if not months ago. So I don’t think it is because there is any impending financial problem. I am not aware of that.”