As you heard at the top of the newscast Prime Minister Dean Barrow placed the blame squarely on the PUP administration for the country’s external debt and even chastising them for deeming superbond 3.0 as the UDP superbond.
Well today the Opposition wasted no time and fired back at the Dean Barrow Administration by stating that the Prime Minister’s latest press conference on the BarrowBond 3.0 was nothing more than a ‘smoke and mirrors’ presentation utilizing hocus-pocus economics.
According to the party’s release, the P.M and his anointed financial pundits spent much time today lauding themselves for what is nothing more than an attempt to clean up the UDP’s own mess from the previous restructuring failure and the figures used today reflect nothing more than the PM’s traditional spin tactics.
The PUP states that when comparing BarrowBond 2.0 and BarrowBond 3.0, there are absolutely no savings for the Belizean people and the debt before the restructuring remains the same as after the restructuring. The insignificant savings in interest says the PUP, evaporates when the consent fee, payment to bondholders committee and payment to local advisors are factored in. The release ends by pointing out that the Prime Minister is an expert at hocus-pocus economics, while Belizeans continue to suffer the negative impact of the REAL economics as a result of this administration’s incompetence and mismanagement.