BELMOPAN, Belize, CMC:
The Belize Chamber of Commerce and Industry (BCCI) has welcomed the announcement by the government that it had been able to reach an agreement with its creditors on restructuring the country's US$544 foreign debt, also known as the super bond.
BCCI vice president Alberto Young, speaking on local television, said that the private sector group is supportive of the accord and that ‘it comes at an opportune time’.
“Our position, as was stated before, is that any alleviation that comes about from fiscal reform, one being the super bond renegotiation should lead to better fiscal management and fiscal reform and that's the position of the chamber”.
Last week, Prime Minister Dean Barrow said that while agreement has been reached “in principle” the details of the agreement, including the payment schedule will be worked out in the coming weeks.