The Prime Minister is out of the country and though his official agenda hasn't been announced, information to 7NEWS is that he is finalizing and formalizing the debt re-profiling program with the consultancy of Houilhan Lokey and the law firm of Cleary and Gottlieb. That means it is a most trying time ahead for the Musa administration when it will have to face off with displeased bondholders who will be told that government does not have the money to pay them now, and will have to work out terms.
National Development Minister Mark Espat had initially been given the tap to lead the effort with Financial Secretary Carla Barnett, but most likely, due to intra Cabinet fallout, the Prime Minister is now leading the effort. It is unclear whether in this he will rely on the financial expertise of Lord Michael Ashcroft who has reportedly exposed an interest in assisting.
