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People’s United Party
                                           Secretariat



                                      PRESS RELEASE


14 August, 2012


                           GOB Defaults on Bond Coupon Payment

The People’s United Party notes with grave concern the decision of the UDP Government to
announce that Belize will not be making the August 20, 2012 Coupon payment due on the 2029
Bond.

The Leader of the Opposition was neither consulted on or informed of this very critical decision
which has very serious implications for Belize’s economy and development.

During the Budget debate for 2012/13 the Nation was led to believe that the government had
budgeted for this payment and would be honoring the August 20, 2012 payment.

We call on the Prime Minister and Minister of Finance to immediately address and inform the
Nation on the specific reasons for the decision and the consequences and implications expected
to follow.

It remains our hope that the Bond Restructuring exercise currently underway is successful.

Our party will continue to monitor this process very closely



                                              END




                                     Serve the People!
                                 #3 Queen Street, Belize City
                           Telephone: 674-9958 Facsimile: 223-3476
                             Email: pupsecretariat@yahoo.com

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The Government of Belize Defaults on Bond Coupon Payment

  • 1. People’s United Party Secretariat PRESS RELEASE 14 August, 2012 GOB Defaults on Bond Coupon Payment The People’s United Party notes with grave concern the decision of the UDP Government to announce that Belize will not be making the August 20, 2012 Coupon payment due on the 2029 Bond. The Leader of the Opposition was neither consulted on or informed of this very critical decision which has very serious implications for Belize’s economy and development. During the Budget debate for 2012/13 the Nation was led to believe that the government had budgeted for this payment and would be honoring the August 20, 2012 payment. We call on the Prime Minister and Minister of Finance to immediately address and inform the Nation on the specific reasons for the decision and the consequences and implications expected to follow. It remains our hope that the Bond Restructuring exercise currently underway is successful. Our party will continue to monitor this process very closely END Serve the People! #3 Queen Street, Belize City Telephone: 674-9958 Facsimile: 223-3476 Email: pupsecretariat@yahoo.com