And to make what the UDP insists is a wholesome spending programme seem downright virtuous, the Barrow Administration is now going to use Petrocaribe
funds for more than just lavish public spending on infrastructure: the PM wants to buy back Belize's debt. Here's how he explained it:…
Dean Barrow - Prime Minister of Belize
"Petrocaribe last long enough, we fully intend to use it to buy back as much of the super bond as we can. Thus saving Belizeans very many millions in
debt servicing. Let me go further, I commit today, that every penny collected from petrocaribe as of April 1st 2015, the start of this financial year
through to March 31st 2016 will be left in the central bank. And there after, starting April 1st 2017 - and we fully expect the UDP to be here at that
time; starting April 1st 2017, not less than half of every dollar to be collected from petrocaibe will be marked for the super bond buy back."
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