Since last Friday, we've been telling you about how the Briceno Government has convinced a majority of Belize's bondholders to cash in the Superbond at a significant discount. 84% of the bondholders have agreed to pursue the new arrangement, a debt for nature swap the government calls "Blue Bond".
In a press release today, the National Trade Union Congress Of Belize gave the government rare and unstinting praise for pulling this off.
The NTUCB met with Government representatives, Ministers Eamon Courtenay and Chris Coye and say they are pleased to learn that the government's current efforts would reduce the national debt by half a billion Belize dollars.
During this meeting, the Government representatives acknowledged the sacrifices made by the teachers and public servants, and they emphasized their appreciation for this critical commitment. The NTUCB made it clear that Belize's workers remain steadfast in holding this administration to its good governance commitments.
