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Osmany Salas backs ‘debt-for-nature’ swap and arbitration treaty ratification

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Posted: Thursday, January 28, 2021. 8:57 pm CST.

By Aaron Humes: Based on his own research and talking to key sources, senator representing the non-governmental organizations, Osmany Salas, enthusiastically backs the idea of debt-for-conservation swaps, which in this case required the ratification of the New York Convention: “I had no problem, no doubt in my mind, that this motion…needed to be supported.”

If it had gone to a division, he added, he would have voted yes with the support of the NGO community, and one of his sources, identified as a “previous high-level government official,” separately confirmed that the previous administration had started the process.

Our debts have created a huge hole, said Salas, and if the agreement is reached one of the obvious pros is much needed debt relief. But he emphasized that he does not have the details and that the negotiations are “highly sensitive,” and too much getting out would risk the negotiations. However, he did confirm prior consultations with the Government and the NGO community along with the “private investor” involved.

Anything that will help reduce Belize’s debt and free up opportunities, Salas said, has his support.

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