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Yesterday at noon, Government launched a revised set of Superbond 2.0 scenarios - with some concessions made to bondholders. Will it be enough to arrive at a new deal? That's what we asked the Prime Minister today:...

Jose Sanchez
"Have the bondholders offered a position as yet in response to the Government's new offerings."

Prime Minister Dean Barrow
"To the new ones, no, not as yet."

Jules Vasquez
"Now, how far are we prepared to go? This is a counterproposal, to their counterproposal. Are we prepared to make yet another counterproposal? We are at well beyond the 90 days."

Prime Minister Dean Barrow
"Clearly, one we're talking, there must be, on both side, a willingness to be flexible. One doesn't make a counterproposal as we've done just for the sake of making a counterproposal. In other words, it is not -we don't see it as merely one more bargaining chip. Serious work has gone into the counterproposal, and the counterproposal is, in the revised circumstances we think, absolutely justified. If the counterproposal is as it is - driven actual reality, numbers, projections - then you know that it's not a proposal from which we would be prepared to depart easily. But again, if it represents the optimum result that we're looking for in the new circumstances, we will concede that as a consequence of negotiations, there may be some little room for additional maneuver. It's awkward to say that because then what's to stop the bondholders from saying, 'Well, if there may be a little room for additional maneuver, let's talk right away about the additional room. So, we have to backstop that willingness to be flexible with the insistence that what we've put on the table is real. What we've put on the table is justified and is actually a compelling proposal given the circumstances, given the numbers, data, and projections."

Jose Sanchez - Channel 5 News
"Which one is in the Government's best interest of the two proposals you've counter-offered with?"

Prime Minister Dean Barrow
"Well basically, in the end, will give you the same result. It's just a different methodology, a different root at arriving at the quantum of relief that you wish. For me, I would prefer the scenario that contemplates an actual principal reduction, simply because, as a headline grabber, I suspect that would be more appealing to the Belizean public, and would be more easily understood."

You can see Government's revised offer at the Central Bank website - which you can find a link to at 7newsbelize.com. We'll have more from today's house meeting later on in our newscast.