The Blue Bond is contemplated as the definitive resolution of the unruly sovereign debt stocks that used to be known as the "Superbond". But, will future government administrations stick to the plan and see it through to completion over its 19-year lifespan?
Viewers know all too well that as one party's administration ends, the succeeding administration from another party goes about scrapping some of the programs of its predecessor. As political ideologies change, priorities change with them. So, a few weeks ago, we asked Opposition Leader Patrick Faber if a future UDP Government would attempt to exit from the Blue Bond. Here's his response to that hypothetical:
Hon. Patrick Faber - Leader of the Opposition
"We point out without hesitancy that this is the brainchild of the UDP in Government. In fact, the facts of the matter will point out that because we were aware that there was going to be an election, and the possibility - albeit small, as we saw it at the time, that there would be a change in government, we engaged the Opposition. Mr. Christopher Coye at the time and other members of the People's United Party who were, of course, being signaled as the financial leaders of the PUP at the time were consulted by our Carla Barnett and Steven Duncan, to let them know that this initiative was coming forward. And so, it is because we want to see that continuity. So, when it is that there is this kind of accomplishment now for the Government of Belize, for us, it is not UDP or PUP. It is for Belize. And you are right, 10 years down the road, 5 years even, should there be a change of government, the things that we've subscribed to, the conservation efforts, the preservation of our marine resources, is not something that we are not in support of. In fact, you'll see our track record in the UDP, the moratorium on off-shore drilling. You see our fight - how hard we fought to get off the list of CITE endangered for UNESCO World Heritage, in the case of the Belize Barrier Reef System. So, these are things, and I can go on about the record of the UDP. So, that does not need to be a fear. We will continue to support those efforts and there can be no conflict, as far as we see it when it comes to us meeting those goals, and maintaining those goals, even improving on them."
