And there's one more bit of news coming out of today's event. The PM also discussed the progress - or lack thereof - with the superbond negotiations.
The Opposition went all Chicken Little on it earlier this week - but the PM, while not overly-enthusiastic, showed cautious optimism.
Hon. Dean Barrow, Prime Minister
"I see that we have been scolded for not keeping you sufficiently informed about super bond re-structuring. The report could be summarized very shortly - the negotiations are ongoing."
"On August 8 our liability management team published three options for a sustainable debt exchange offer. These indicative scenarios have formed the basis for ongoing negotiations with a Creditor Committee and with non-Committee Bondholders over the last 10 weeks - nobody ever said it would be easy, the negotiations continue."
"I go up to Miami this weekend to meet with our advisors preparatory to a face to face meeting that they will then have with the people representing the creditor committee."
"As the negotiations proceed, our stance remains resolute: for any outcome to be acceptable, it must be based on reasonable, realistic and-above all-sustainable assumptions."
Jules Vasquez
"To what extent is the bond re-structuring efforts and specifically the dialogue with the IDB and the re-structuring on the guarantee? To what extent is that being undermine by functionaries if the Ashcroft axis in trying to lobby against Belize's best effort?"
Hon. Dean Barrow, Prime Minister
"To a great extent. I went to Washington; they went immediately behind me, sort meetings with the fund, with the bank. They have been active among creditor ranks, among bond holder ranks trying to persuade people not to come to terms with us. That is why Dean Boyce could have filed an affidavit in the court of appeal saying that the negotiations were not going successfully - that was wishful thinking or that was his describing as fact what he hope would happen."
"This group of the members of the Ashcroft Alliance making the rounds has now included Stan Marshall. So there is no question at all but that they continue with their serial efforts to fundamentally undermine at the best interest of this country. I have no doubt that we are going to prevail one way or another."
Usually, a partial IDB guarantee would only come with an IMF standby arrangement - which the Government of Belize has staunchly resisted.
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