P.M. Defends Investment Climate

Dean Barrow

The decision not to pay the UHS loan has serious ramifications for the economy as it relates to investors confidence. The PM is not daunted by the possibility that the already sluggish economy could be affected.

Prime Minister Dean Barrow

“We don’t know how the house will vote, but assuming the house votes no, we’ve had an extended session today and this is a matter that has been in the public domain for years with, of course, a far more concentrated, far more intense discussion taking place since the judgment last Wednesday.  Anybody who has any interest in this country, in investing here in the state of affairs will know the facts of this matter.  Any such person who is a potential investor, if that person will say, well I have reservations about coming to a country and investing, unless I can be sure that even if I make a corrupt deal, you see what’s happening in Brazil, all over the world, if I make a corrupt deal and somehow I get a court to justify it I will be discouraged because I know I run the risk that the government or a succeeding administration will not honor a corrupt deal.  Anybody who thinks like that you’re welcome not to come and invest in Belize.”

Reporter

“Has the government given any consideration to how CARICOM member states, especially those like Belize have signed or are signatories to the CCJ appellate jurisdiction, how they might view Belize if the majority of parliamentarians vote no come the next house sitting?

Prime Minister Dean Barrow

“I am saying sir, that this is a particular case with particular circumstances and I don’t think anybody would extrapolate from the course of action that might take place here if parliament decides to vote no.  I don’t think anybody can extrapolate from that that all of a sudden Belize is going to make the rule rather than the exception be that we will refuse to honor obligations, that we will refuse to pay debts.  We’ve not.”