By Aaron Humes: Prime Minister John Briceño is today in New York City for a meeting concerning the Blue Bond, as well as LatinFinance’s Latin America Capital Markets Summit.
While there, the P.M. will also receive a Sovereign Restructuring Award of the Year on behalf of the Government and people of Belize.
The bond was created through a debt conversion agreement established with The Nature Conservancy (TNC) in November 2021 after the retirement of the infamous ‘Super Bond’.
It is credited for reducing the national debt by US$250 million, saving more than US$200 million in debt servicing and creating an estimated US$180 million in conservation funding over the next 20 years to be used for the protection of more than 30 percent of the marine waters and support for the work of the Ministry of Blue Economy and Civil Aviation and the Ministry of Sustainable Development, Climate Change and Disaster Risk Management, tasked with achieving the commitments outlined in the agreement.
Prime Minister Briceño returns to the country on Saturday, January 28, 2023. During his absence, Cordel Hyde, Deputy Prime Minister and Minister of Natural Resources, Petroleum, and Mining will hold over as Prime Minister.