Last night, we showed you what Prime Minister John Briceno had to say to his family's TV station in Orange Walk on the standoff between his government and the joint unions.

The Prime Minister took questions on a few more topics, and our colleagues from CTV asked him for his views on the reactions from the creditor committee representing Belize's Super-bondholders. PM Briceno and his government are trying to get the bondholders to accept a 30% haircut on the Superbond, but the bondholders are resisting. They insist that after 5 restructuring exercises since 2008, they can no longer trust a homegrown solution for sustainable repayment.

They're insisting that the Government seek an IMF standby agreement, and the Prime Minister was asked about that yesterday. Here's what he had to say about the impasse between them and Belize's external creditors:

Hon. John Briceno - Prime Minister
"We were not surprised by their response, we expected that response. Both sides have to put their cards on the table and now it's time for the real work to begin. We believe that pretty soon we will be sitting down in earnest to see how we can break this impasse and move forward. The reality is, the truth is that Belize is in a position right now that cannot afford to be able to pay the bond the way it is structured and we believe it is time for us to be able to look at how we can reduce what we owe and hopefully reduce the interest rates and then be able to find a sustainable path towards paying the bondholders."

Reporter
"What happens if a restructuring agreement is not agreed upon, does Belize have the US7 million to pay for the coming days May 20th?"

Hon. John Briceno - Prime Minister
"We've been very clear to the bondholders that we don't have the money and as much as we would want to pay them we don't have the money and that is why we've been meeting with them and discussing with them, but we believe that we are going to find - I am an optimistic person - I believe at the end of the day we will find a compromise to see how we can put Belize back to a sustainable path. The debt to GDP of 135% is unsustainable. No government can really afford that, unless if you are a Japan or United States that have a huge economy. We don't. We can't be spending all of this money only just on paying loans when we have other pressing matters, fighting poverty, making sure our children can go to school, improving the health services and creating opportunities and jobs for Belizeans, that is what is driving us."

Channel 7