The next Superbond payment is due in a few months - and the Briceno Administration has already said that it will ask creditors for a haircut on the principals. But, re-negotiating the bond terms for, like, the fourth time, won't be easy - and financial diplomacy will be very much at play.
Former UDP Attorney General Mike Peyrefitte took the victory lap in 2016 when "Latin finance" recognised Belize for its re-negotiation of the superbond.
This time around, he's out of government and out of play, but he said yesterday that if the government needs help, it should call him:
Michael Peyrefitte
"You would have to ask the creditors if they have any trust or confidence in this PUP government. I know for sure they had it in our government and when we were a part of restructuring the bond twice. So, that is an issue that is very important, Hipolito. And I will be here to tell you that I put country above everything else. So, what did Senator Courtney try to tell me in the Senate meeting? If you need help call me, check with me and I will help you. So, if they need any help with that- country above anything else- I will gladly give my insight into what it takes to restructure a government bond. But they have to first humble themselves and so that is a difficult thing for them to do. And the first two times I did it for free. And this time it will be for free again."
