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  • Will The Barrow Administration Honor CCJ Ruling And Pay Belize Bank?

    Thursday, 30 November 2017 02:46
  • What Will Be The Belize Banks Next Move?

    Thursday, 30 November 2017 02:52
  • PUP Says 90 Million Dollars Payment Is Borrow's Headache.

    Thursday, 30 November 2017 02:54
  • Hurricane Season About To End.

    Thursday, 30 November 2017 02:59
  • Belizean Athletes Represents At Central American Games

    Wednesday, 13 December 2017 02:19

Screen_Shot_2017-11-28_at_7.55.48_PMCabinet met today for a regular session, but on the agenda for discussion was anything but an extraordinary matter. The main topic was the $89 million dollars which the Caribbean Court of Justice ordered the Barrow Administration to pay to the Belize Bank, as part of a $35m loan guaranteed by the Government for the Universal Health Services under the former Musa Administration, but which Prime Minister Dean Barrow refused to honor upon taking office in 2008. The Bank appealed the rulings of the Courts in Belize, and won a favourable decision before the Privy Council. The matter was then challenged before the CCJ, and last week they ruled that the Privy Council’s decision was proper, which meant the Government is expected to pay. But the matter is not that simplified, because through all the years the payment was held back, it accumulated interest of over $50 million dollars.


Prime Minister Barrow has yet to speak on the matter, but all of last week his Government Ministers were on the airwaves claiming that they will choose not to pay. Yesterday the PM returned from personal leave and today Cabinet met to decide what to do. Outside the Cabinet, the media waited for comments, but it seems will wait for the PM to hold a press conference tomorrow, in which it is expected that he will announce what his administration will do. A few of Ministers had this to say in their short comments today.


Reporter


“Just want to know if you feel the same way, they had a big meeting and you say that you could be persuaded otherwise …?”


Honourable Michael Finnegan - Mesopotamia Area Rep.


“I feel the same way; I will go to my grave before I change”


Honourable Sedi Elrington, Picktock Area Rep.


“I will explain it but after tomorrow the Prime Minister will be having a Press Conference he is going to go into details along with the other members of Cabinet am sure tomorrow and then after that I will be happy to add up my contribution to what they say but I wouldn’t want to get into any of that now.”


Reporter


“But safe to say that after today Cabinet meeting the position remains the same?”


Honourable Sedi Elrington, Picktock Area Rep.


“It’s not going to change it sole become more firm”


The Opposition People’s United Party is closely monitoring the matter. Today Deputy Leader and Orange Walk South area representative Hon. Jose Abelardo Mai explained why they believe the Prime Minister has put the country in an even more severe situation.


Screen_Shot_2017-11-28_at_7.56.08_PMHonourable Jose Abelardo Mai, PUP Deputy Leader/OW South Area Rep.


“Primeramente la corte le pidió a Deán Barrow anda a tu cámara de representantes y que pase la moción para pagar esta cuenta, pueden votar o si o no, si se vota contra la moción que no se pague el dinero dos cosas pueden pasar, uno de que Dean Barrow va a la cárcel y dos es de que hay unas cláusulas en el convenio de súper Bonds te recuerdas que Belice tiene un súper bond de medio billón de dólares, hay una cláusula que indica que si Belice de una manera u otro no paga la cantidad de dinero que sea más que veinte y cinco millones de dólares los dueños del súper bond pueden llamar informando el gobierno primero pueden llamar para que se les pague todo el súper bond, thats a clause that is in the super bond agreement and it says that if Belize defaults of any loan of more than twenty five million dollars that 25% of the bond holders can call in for the full payment of the bond. This is not a PUP matter, Said Musa dealt with this matter since 2007 completely he paid the debt in full and  the Belizean people didn’t owe nothing and he paid it not using a single penny from Belizean people it was Venezuela money and Taiwan money, today now we have to pay ninety million dollars from taxpayers money, I feel, I personally believe that this is  situation created, orchestrated, planned by the UDP to enrich themselves, it is them who put us in this mess so I want to believe they should be the ones to take us out of this mess, they don’t need me for that they have nineteen in the house we have twelve so they can do that by themselves, they don’t need me for that.”


Mai further explained that because the Government has no other option but to pay tens of millions of dollars, the economy will take another hit, but this time one which may not be able to recover from.


Honourable Jose Abelardo Mai, PUP Deputy Leader/OW South Area Rep.


“To begin with they have to pay ninety million dollars from the consolidated government fund I don’t know but he has just paid $190 million dollars the other day and he had to take money from the reserves today I don’t know where he will find that money from but he has to find money he found $557 million dollars to pay for BTL, a company that only cost $100 million dollars, he found money to pay Andre Vega $400,000.00 and to pay Pitts $400,000.00 and he needs to find money to pay this debt and he needs to find money to fix the sugar roads in Orange Walk it is he who created this mess it is he who is called upon to fix this mess.”


The Prime Minister has called a press conference for Wednesday morning. Interestingly, a meeting of the House of Representatives slated for Friday was called off late yesterday.

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