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Business Senator questions $2 Million fees paid by GOB for recent Superbond re-structure

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Posted: Wednesday, August 19, 2020. 11:15 am CST.

By Aaron Humes: Senator for the Business Community, Mark Lizarraga, has revealed that the General Revenue Supplementary Appropriation, 2020-2021, No. 3, Bill, 2020 concerns $2.2 million appropriated for legal and consultation fees concerning the recent negotiations on deferral of interest payments through February 2021, on the Belize Bonds, 2034 (the “Superbond”.)

Last week, Prime Minister Dean Barrow said he considered it “job well done” in the circumstances, but Senator Lizarraga said he wants to know who did it for Belize, whether services were put out to tender and so on.

He requested that in the interest of “bang for our buck,” Financial Secretary Joseph Waight be made to reveal whose services the Government solicited.

Belize continues to pay interest on the “Superbond”, which was re-negotiated by the current government in 2011, then re-negotiated again in 2017, up to 2029 when principal payments kick in until 2034.

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