The Government continues to negotiate with Venezuela to restructure the current Petrocaribe debt. During today’s Sitting of the House of Representatives, Prime Minister John Briceño highlighted that GOB was able to negotiate a quarter billion reduction in the debt. According to the Prime Minister, this reduction will lead to up to a seven percent drop in debt to GDP ratio. But, although there has been a significant drop in the number that Belize owes, the current debt value is the big question. According to Prime Minister Briceño, it is looking to be somewhere between 400 million Belize dollars to 500 million Belize dollars; however, they are still conducting an intensive audit.
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