Fin Sec Speaks on the Country’s Debt

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Updated: February 4, 2016

Since the PetroCaribe came into being under the Barrow administration, many figures have been thrown out regarding the country’s overall debt and additional debts with PetroCaribe.  Earlier this week, the Financial Secretary, Joseph Waight told the media just what our debts look like.

JOSEPH WAIGHT

“The super-bond is half our payment. It’s half our debt and half our payment and then the rest is made up of multi-lateral which is PetroCaribe, the World Bank, Multilateral and others. Under super bond we are paying about fifty million dollars Belize a year on interest and the rest of the amortization interest maybe another fifty million as well.  So it’s about a hundred and twenty million dollars. Superbond is only paying interest at the moment. The semiannual and the annual payments are about five million dollars each Belize for now but payment is due in a few weeks so Superbond is about fifty million dollars in interest let us say and the rest is multilateral payments.”

As Waight mentioned the Super bond is about fifty million dollars in interest with the multi-lateral facilities being another fifty to seventy million dollars.