Debt-for-nature swap still at discussion stage 

By Aaron Humes: At the time when the New York Convention (United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards) was ratified in January, the leader of Government business in the Senate, Eamon Courtenay, said discussions were being held with an unnamed entity for a “significant reduction of our debt.”

But the talks have been delicate and the Government tight-lipped.

On Monday we sought an update from Minister of State for Finance Christopher Coye, who stated that Government has been listening to all sorts of offers but not much more than that.

“There’s no offer on the table at this point in time, but we always have indications of interest for financing. But we have to sift through and look at what actually is real, what makes sense and what makes sense for Belize, … to the extent that ultimately there is something that comes to the table, I am sure that Cabinet will give it serious consideration,” Coye said. He added that in addition to conservation groups, “various parties” are also talking to Belmopan.

Belize’s total national debt is more than $4.2 billion, including $1.1 billion for the Superbond and $1.3 billion in domestic Treasury Bonds and Notes.  

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