The Miami-based Coordinator Committee which says it represents the owners of more than half of the Belize bonds issued a release today saying quote, "The evaluation process has been impacted by delays on the part of the GOB in providing key information requested by the Committee."

As we understand it this is information having to do with BEL and BTL - the compensation for which has been added to the overall debt profile.

And until they get what they call full disclosure , the Coordinator Committee says it will rely on the IMF Article Four report published last December, as, quote, "the definitive active financial analysis for Belize."

But a representative of the debt restructuring team told us today that it is not a matter of non-disclosure, but instead it is posturing and a stalling tactic - so that Belize will be pushed to the default deadline which is September 19th. This prospect of default would cause some alarm in most capitals, but in Belmopan, we're told that in the 30 days - government's resolve will only strengthen.

The Creditors Group also claims that the restructuring scenarios were released before there was any quote, "substantive discussion with bondholders." The representative for the Belize negotiating team called this quote "a certified untruth" as Government spoke with bondholders representing almost 90% of the bond holdings since June.

Unmoved, the Creditors committee says, quote, "the recent adversarial actions of the GOB are counterproductive to a rapid conclusion of negotiations."

That quote is actually from AJ Mediratta the Co-Chair of the Committee. As we've mentioned before, he should know a thing or two about the play of things since he was at Bear Stearns when Belize was floating Bonds there. And when Belize wanted to restructure those bonds ot make the Superbond, Mediratta was also there - trying to get in on the job. Government had chosen another firm - and Mediratta, then still at Bear Stearns was bad mouthing that firm, writing to then Prime Minister Said Musa, quote: "Making the decision to go down a restructuring path, however "market-friendly" the intention is never an easy one and is often mired with unanticipated consequences and pitfalls. Belize will need someone on their side who is experienced in navigating the potentially treacherous waters ahead."