Prime Minister Dean Barrow along with his legal team is looking to restructure Belize’s 2038 Bonds that were issued in 2013. The government is citing that the country’s economy has significantly underperformed in comparison with the projections used at the time of setting the terms of the bonds. PM Barrow is looking to get out of this financial chokehold by convincing bondholders to agree to the new terms of the bonds. Leader of the Opposition, People’s United Party, John Briceno said Barrow has dug himself into a hole which he cannot get himself out of.
Government representatives are to meet with bondholders by the end of this month.