IMF concludes Belize visit The IMF conducted a tw
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IMF concludes Belize visit
The IMF conducted a two week visit to Belize. During that period I also read the Barrow was out doing a round of trips which included a stay in Washington related to negotiating the superbond.
In the PR below it has no indication of a resolution of the issue any time soon, which should come as no surprise since the GOB asked for close to a 50% haircut on their debt. One line that should stand out though is the "declining oil production."
I see this term repeated in any article that makes GDP forecasts for the country and it is clear to me that this is part of the ongoing narrative that the GOB is using to try negotiate their principle and interest lower. Reading between the lines, this makes me think that the GOB will continue to be tight lipped on any stories about oil field production for the indefinite future.
Their ideal situation would be to have an oil producer quietly and discreetly pumping oil while they sell the IMF on storyline about declining production. By the way, in the mean time they need to keep environmentalists, unions, and other malcontents at bay. That's quite the balancing act and operators like Treaty, NWO, and BNE are stuck in the middle of it.
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