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PUP Wants Consultation on Superbond Restructuring?? Print E-mail
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Written by Shane D. Williams   
Thursday, 16 August 2012 00:00

Francis FonsecaIn 2008, the United Democratic Party was elected to pull Belize out of a ditch that the People’s United Party had drove the country in. That required the establishment of a fiscally-disciplined administration that had the ability to maneuver and halt the country’s downward path to its demise. In just four years, Prime Minister Barrow’s administration was not only able to halt the country’s downward path, but he was also able to turn the country around. By March of 2012, the country was ready to climb out of the ditch and move forward. Prime Minister Barrow called early elections to ask the people for a specific mandate. After four difficult recovery years, the people of Belize reelected the United Democratic Party to office with a mandate to do whatever was necessary to lead the country back on the path to prosperity. That means getting the tires, hands and face muddy if necessary to crawl out the ditch and get us on solid economic ground.


Belize has been getting its hands a bit muddy recently in its efforts to overcome the main obstacle that stands between Belize and prosperity, the Superbond. Government’s determination to restructure the Superbond and ease the noose around the country’s neck has led to multiple downgrades of Belize’s credit rating. Fortunately, since this administration does not borrow from commercial lenders, the downgrades are like nothing more than nasty gossip. When the restructuring is successful and Belize is out of the ditch, the country can wash its hands and face and look better than ever.

Until then, the People’s United Party has chosen to take the mud from the same ditch that they drove the country in to sling at the Government of Belize in hopes of gaining political mileage during the restructuring period. On Tuesday, August 14th, after the Government made another move to draw bondholders to the table, the People’s United Party issued a press release expressing “grave concern” over the fact that Government will not make the Superbond payment scheduled for this month. The party is complaining because it claims that the government did not consult the Leader of the Opposition before making its decision.

The question everyone is asking the PUP is why. Why should the government consult them in its efforts to fix the mess that the PUP had made? Why didn’t they have consultations with the people of Belize before they decided to run up the country’s debt? Why didn’t they consult the country when they squandered money through failed projects? Why aren’t they consulting the country now as Belizeans still want to know where did all the money from the Superbond go? Finally, the people of Belize simply want to know why Francis Fonseca and the PUP noh jus stap deh fool.